United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases Shares of 4,100 Best Buy Co., Inc. (NYSE:BBY)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,100 shares of the technology retailer’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Stevens Capital Management LP lifted its stake in Best Buy by 228.7% in the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer’s stock valued at $1,941,000 after acquiring an additional 15,741 shares in the last quarter. Pinnacle Financial Partners Inc bought a new stake in shares of Best Buy in the fourth quarter worth $3,293,000. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Best Buy by 48.6% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer’s stock worth $2,265,000 after purchasing an additional 8,640 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in Best Buy by 424.0% during the fourth quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer’s stock worth $2,248,000 after purchasing an additional 21,200 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in Best Buy in the fourth quarter valued at $453,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Price Performance

Shares of NYSE BBY opened at $74.78 on Thursday. The business has a fifty day moving average price of $82.84 and a two-hundred day moving average price of $88.58. The stock has a market capitalization of $15.81 billion, a PE ratio of 12.78, a P/E/G ratio of 2.10 and a beta of 1.43. 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 Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71.

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

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is currently 88.99%.

Insiders Place Their Bets

In other Best Buy news, insider Todd G. Hartman sold 4,893 shares of Best Buy stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $355,476.45. Following the transaction, the insider now owns 32,320 shares in the company, valued at $2,348,048. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mathew Watson sold 3,182 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.29, for a total transaction of $226,844.78. Following the completion of the sale, the chief accounting officer now owns 19,218 shares in the company, valued at approximately $1,370,051.22. The trade was a 14.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,355 shares of company stock worth $5,767,213 over the last three months. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on BBY shares. Morgan Stanley cut their price target on shares of Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. DA Davidson decreased their target price on shares of Best Buy from $117.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, Guggenheim dropped their price target on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.50.

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.