Richardson Financial Services Inc. Grows Position in Best Buy Co., Inc. (NYSE:BBY)

Richardson Financial Services Inc. boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 71.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 550 shares of the technology retailer’s stock after buying an additional 230 shares during the period. Richardson Financial Services Inc.’s holdings in Best Buy were worth $47,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BBY. Trust Co. of Vermont raised its stake in shares of 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 acquiring an additional 384 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Best Buy in the third quarter valued at approximately $40,000. LRI Investments LLC lifted its stake in 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 purchasing an additional 335 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Best Buy during the third quarter worth $44,000. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Best Buy by 959.6% in the third quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer’s stock valued at $57,000 after buying an additional 499 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BBY shares. Guggenheim lowered their target price on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. Barclays lowered their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Loop Capital restated a “buy” rating and issued a $100.00 price target on shares of Best Buy in a research note on Wednesday, December 18th. Finally, UBS Group reduced their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Price Performance

Shares of NYSE:BBY opened at $85.73 on Monday. 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 12 month low of $69.29 and a 12 month high of $103.71. The firm has a market capitalization of $18.33 billion, a P/E ratio of 14.65, a P/E/G ratio of 2.14 and a beta of 1.43. The company’s fifty day moving average price is $86.30 and its 200 day moving average price is $90.16.

Best Buy (NYSE:BBY) last posted 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 firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.39%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Insider Activity

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on 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 transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

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.