Stifel Financial Corp Has $71.93 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Stifel Financial Corp lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 838,372 shares of the technology retailer’s stock after selling 41,969 shares during the quarter. Stifel Financial Corp’s holdings in Best Buy were worth $71,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BBY. Rakuten Securities Inc. lifted its stake in Best Buy by 971.9% in the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after acquiring an additional 311 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Best Buy in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. boosted its holdings in shares of Best Buy by 186.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 243 shares during the period. OFI Invest Asset Management purchased a new position in Best Buy during the fourth quarter valued at approximately $34,000. Finally, Trust Co. of Vermont increased its stake in Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after buying an additional 384 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Up 2.1 %

Best Buy stock opened at $63.40 on Wednesday. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. 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 Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71. The business has a 50 day moving average price of $73.92 and a two-hundred day moving average price of $83.56.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 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 the consensus estimate of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period last year, the firm earned $2.72 EPS. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend was Tuesday, March 25th. This is an increase from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio (DPR) is 88.99%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BBY. Citigroup restated a “neutral” rating and set a $70.00 price target (down from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. Morgan Stanley dropped their target price on 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. Jefferies Financial Group reduced their price target on Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. DA Davidson restated a “buy” rating and issued a $110.00 price objective on shares of Best Buy in a report on Monday, April 14th. Finally, Wells Fargo & Company decreased their target price on shares of Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $91.28.

Insider Activity at Best Buy

In other news, CEO Corie S. Barry acquired 13,500 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mathew Watson sold 3,182 shares of Best Buy 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 transaction, the chief accounting officer now owns 19,218 shares of the company’s stock, valued at $1,370,051.22. This trade represents a 14.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,355 shares of company stock valued at $5,767,213 in the last 90 days. 0.59% of the stock is owned by corporate insiders.

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.