Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 48.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,400 shares of the technology retailer’s stock after acquiring an additional 8,640 shares during the period. Best Buy makes up approximately 1.8% of Klein Pavlis & Peasley Financial Inc.’s investment portfolio, making the stock its 19th biggest position. Klein Pavlis & Peasley Financial Inc.’s holdings in Best Buy were worth $2,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BBY. Bleakley Financial Group LLC lifted its stake in Best Buy by 10.3% during the fourth quarter. Bleakley Financial Group LLC now owns 6,649 shares of the technology retailer’s stock valued at $570,000 after buying an additional 621 shares in the last quarter. Centennial Wealth Advisory LLC increased its holdings in shares of Best Buy by 10.2% in the 4th quarter. Centennial Wealth Advisory LLC now owns 4,349 shares of the technology retailer’s stock valued at $373,000 after purchasing an additional 403 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Best Buy by 21.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,582 shares of the technology retailer’s stock worth $16,456,000 after purchasing an additional 33,018 shares during the period. Stratos Wealth Partners LTD. grew its position in Best Buy by 17.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,946 shares of the technology retailer’s stock valued at $253,000 after purchasing an additional 435 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in Best Buy by 0.5% in the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after buying an additional 145 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.59% of the company’s stock.

Best Buy Trading Up 1.7 %

Shares of BBY opened at $86.48 on Thursday. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 2.16 and a beta of 1.43. The firm’s 50-day moving average price is $86.05 and its 200-day moving average price is $90.11. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its quarterly 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). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same period last year, the business earned $1.29 EPS. Best Buy’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Tuesday, December 17th. Best Buy’s payout ratio is 64.27%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BBY. Guggenheim lowered their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Loop Capital restated a “buy” rating and set a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. Morgan Stanley lowered their price target on Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Barclays lowered their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Finally, Citigroup lowered their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.72.

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.