Jones Financial Companies Lllp Has $1.41 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Jones Financial Companies Lllp grew its position in Best Buy Co., Inc. (NYSE:BBY) by 55.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,468 shares of the technology retailer’s stock after purchasing an additional 5,873 shares during the period. Jones Financial Companies Lllp’s holdings in Best Buy were worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Best Buy during the fourth quarter worth $32,000. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy during the third quarter worth $40,000. LRI Investments LLC increased its position in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after acquiring an additional 335 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Best Buy during the third quarter worth $44,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BBY has been the subject of several research reports. Guggenheim lowered their price objective on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore ISI decreased their target price on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research report on Wednesday. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Piper Sandler decreased their target price on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.50.

Best Buy Stock Performance

Shares of BBY opened at $79.66 on Friday. The firm has a 50-day moving average of $85.58 and a 200-day moving average of $90.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The company has a market cap of $17.03 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The company had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter last year, the company posted $2.72 EPS. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Tuesday, March 25th. This is a boost from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

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.