Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Tradition Wealth Management LLC

Tradition Wealth Management LLC grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,196 shares of the technology retailer’s stock after acquiring an additional 379 shares during the quarter. Tradition Wealth Management LLC’s holdings in Best Buy were worth $274,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. boosted its position in Best Buy by 971.9% during 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 during the period. Golden State Wealth Management LLC bought a new position in Best Buy in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. increased its stake in Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock valued at $32,000 after buying an additional 243 shares during the period. OFI Invest Asset Management bought a new stake in shares of Best Buy during the 4th quarter worth about $34,000. Finally, Trust Co. of Vermont lifted 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 worth $36,000 after acquiring an additional 384 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

NYSE:BBY opened at $62.24 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $74.44 and a 200 day moving average price of $83.70. The firm has a market capitalization of $13.16 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter in the previous year, the firm earned $2.72 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 6.11%. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio is currently 88.99%.

Insider Transactions at Best Buy

In other news, CAO Mathew Watson sold 3,182 shares of Best Buy stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the sale, the chief accounting officer now directly owns 19,218 shares of the company’s stock, valued at approximately $1,370,051.22. This trade represents a 14.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd G. Hartman sold 4,893 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $355,476.45. Following the transaction, the insider now directly owns 32,320 shares in the company, valued at $2,348,048. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,355 shares of company stock worth $5,767,213. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BBY. Morgan Stanley lowered their price objective on shares of Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Wedbush restated a “neutral” rating and issued a $90.00 price objective on shares of Best Buy in a report on Monday, March 3rd. Barclays dropped their price target on shares of 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, DA Davidson reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Best Buy in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $91.28.

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.