Best Buy Co., Inc. (NYSE:BBY) is Van Hulzen Asset Management LLC's 2nd Largest Position

Van Hulzen Asset Management LLC increased its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 29.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 960,000 shares of the technology retailer's stock after buying an additional 219,392 shares during the quarter. Best Buy accounts for about 5.3% of Van Hulzen Asset Management LLC's investment portfolio, making the stock its 2nd largest position. Van Hulzen Asset Management LLC owned approximately 0.45% of Best Buy worth $75,149,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC lifted its position in shares of Best Buy by 549.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer's stock valued at $25,000 after buying an additional 302 shares in the last quarter. Bfsg LLC bought a new stake in Best Buy during the 4th quarter worth approximately $25,000. Naples Money Management LLC purchased a new position in Best Buy during the fourth quarter valued at approximately $27,000. Stonebridge Capital Advisors LLC boosted its position in shares of Best Buy by 81.9% in the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer's stock worth $29,000 after purchasing an additional 185 shares during the period. Finally, Hartford Financial Management Inc. increased its stake in shares of Best Buy by 56.5% in the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer's stock worth $30,000 after purchasing an additional 140 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Best Buy

In other news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the completion of the sale, the chief executive officer now owns 429,159 shares of the company's stock, valued at $35,105,206.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $2,293,835.60. Following the completion of the sale, the chief executive officer now directly owns 429,159 shares in the company, valued at $35,105,206.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kathleen Scarlett sold 5,096 shares of the firm's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $416,852.80. Following the transaction, the executive vice president now directly owns 76,226 shares in the company, valued at approximately $6,235,286.80. The disclosure for this sale can be found here. Insiders sold a total of 52,023 shares of company stock valued at $4,253,900 in the last three months. Company insiders own 0.59% of the company's stock.

Best Buy Trading Up 0.0 %

Shares of BBY stock traded up $0.01 during trading hours on Friday, reaching $74.17. 1,415,103 shares of the stock were exchanged, compared to its average volume of 2,876,927. The firm has a market capitalization of $16.05 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.50. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $86.11. The company's 50-day moving average price is $77.49 and its 200-day moving average price is $74.33. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The firm had revenue of $14.65 billion for the quarter, compared to analysts' expectations of $14.58 billion. During the same quarter in the prior year, the firm posted $2.61 earnings per share. The company's quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend was Wednesday, March 20th. This is an increase from Best Buy's previous quarterly dividend of $0.92. Best Buy's dividend payout ratio (DPR) is currently 66.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BBY shares. Jefferies Financial Group lowered their price target on Best Buy from $95.00 to $94.00 and set a "buy" rating on the stock in a report on Monday, April 8th. TheStreet upgraded shares of Best Buy from a "c" rating to a "b-" rating in a research report on Thursday, February 29th. Citigroup reduced their price target on shares of Best Buy from $76.00 to $67.00 and set a "sell" rating on the stock in a report on Tuesday. UBS Group increased their price objective on shares of Best Buy from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, March 1st. Finally, The Goldman Sachs Group lifted their target price on Best Buy from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $84.00.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.

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