Wilmington Savings Fund Society FSB Makes New $247,000 Investment in Best Buy Co., Inc. (NYSE:BBY)

Wilmington Savings Fund Society FSB acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,395 shares of the technology retailer’s stock, valued at approximately $247,000.

Other hedge funds have also recently made changes to their positions in the company. Richardson Financial Services Inc. lifted its stake in shares of Best Buy by 190.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 210 shares during the last quarter. Innealta Capital LLC acquired a new position in Best Buy during the 2nd quarter valued at about $35,000. Harbor Capital Advisors Inc. acquired a new position in Best Buy during the 3rd quarter valued at about $40,000. LRI Investments LLC increased its position in Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after buying an additional 335 shares in the last quarter. Finally, Whittier Trust Co. increased its position in Best Buy by 53.3% during the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock valued at $41,000 after buying an additional 171 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.59% of the company’s stock.

Best Buy Stock Performance

NYSE BBY opened at $87.50 on Wednesday. The company has a market cap of $18.71 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44. The stock’s 50 day simple moving average is $91.14 and its 200-day simple moving average is $90.61. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

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

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be given a $0.94 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.30%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Loop Capital cut their price objective on Best Buy from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Guggenheim cut their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Wedbush raised their target price on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, Evercore ISI raised their target price on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Best Buy currently has a consensus rating of “Moderate Buy” and an average target price of $101.06.

Best Buy 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.