Rosenberg Matthew Hamilton Buys 155 Shares of Best Buy Co., Inc. (NYSE:BBY)

Rosenberg Matthew Hamilton increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,243 shares of the technology retailer’s stock after purchasing an additional 155 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Best Buy were worth $107,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BBY. Richardson Financial Services Inc. lifted its position in shares of Best Buy by 190.9% during the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after buying an additional 210 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Best Buy during the 3rd quarter worth approximately $40,000. LRI Investments LLC lifted its position in Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Best Buy by 50.8% during the second quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer’s stock valued at $42,000 after acquiring an additional 166 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Best Buy in the third quarter valued at approximately $44,000. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of recent analyst reports. UBS Group reduced their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company reduced their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price target on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Guggenheim dropped their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $117.00 price objective on shares of Best Buy in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.72.

Best Buy Trading Down 2.0 %

Shares of Best Buy stock opened at $82.66 on Wednesday. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The company’s 50-day simple moving average is $87.60 and its 200-day simple moving average is $90.20. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter in the previous year, the company posted $1.29 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is currently 64.27%.

About Best Buy

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.