Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by Skylands Capital LLC

Skylands Capital LLC increased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 44.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,400 shares of the technology retailer’s stock after buying an additional 2,275 shares during the period. Skylands Capital LLC’s holdings in Best Buy were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HS Management Partners LLC purchased a new position in Best Buy during the 4th quarter worth $103,854,000. Barclays PLC raised its stake in shares of Best Buy by 120.3% during the 3rd quarter. Barclays PLC now owns 1,336,071 shares of the technology retailer’s stock worth $92,819,000 after buying an additional 729,605 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Best Buy by 36.2% in the 3rd quarter. Federated Hermes Inc. now owns 2,586,442 shares of the technology retailer’s stock valued at $179,680,000 after buying an additional 687,556 shares during the period. Van Hulzen Asset Management LLC grew its holdings in Best Buy by 426.7% during the third quarter. Van Hulzen Asset Management LLC now owns 740,608 shares of the technology retailer’s stock worth $51,450,000 after acquiring an additional 600,000 shares during the period. Finally, Ceredex Value Advisors LLC raised its position in Best Buy by 73.1% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,228,980 shares of the technology retailer’s stock worth $97,339,000 after acquiring an additional 518,920 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BBY shares. Wedbush upped their price target on shares of Best Buy from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. UBS Group boosted their price target on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. raised Best Buy from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $89.00 to $101.00 in a report on Friday, March 22nd. The Goldman Sachs Group raised their price target on Best Buy from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Citigroup lifted their price target on Best Buy from $67.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $84.60.

Best Buy Stock Down 0.4 %

Shares of NYSE BBY opened at $74.69 on Tuesday. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.96 and a beta of 1.49. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $86.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. The stock’s 50-day simple moving average is $78.04 and its 200-day simple moving average is $74.20.

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

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were given a dividend of $0.94 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 annualized dividend and a dividend yield of 5.03%. Best Buy’s dividend payout ratio (DPR) is presently 66.08%.

Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the sale, the chief executive officer now owns 431,231 shares in the company, valued at $32,670,060.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Best Buy news, CEO Corie S. Barry sold 366 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mathew Watson sold 3,520 shares of Best Buy stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $82.43, for a total transaction of $290,153.60. Following the completion of the transaction, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,023 shares of company stock worth $4,253,900. Corporate insiders own 0.56% of the company’s stock.

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.