Focused Wealth Management Inc acquired a new position in Best Buy Co Inc (NYSE:BBY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,400 shares of the technology retailer’s stock, valued at approximately $233,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new position in shares of Best Buy in the third quarter worth about $139,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Best Buy by 232.8% in the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock worth $139,000 after buying an additional 1,420 shares during the period. Smithfield Trust Co. acquired a new position in shares of Best Buy in the third quarter worth about $178,000. Squar Milner Financial Services LLC acquired a new position in shares of Best Buy in the fourth quarter worth about $201,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Best Buy in the fourth quarter worth about $205,000. 85.73% of the stock is currently owned by institutional investors.
In related news, CFO Corie S. Barry sold 399 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $72.45, for a total transaction of $28,907.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hubert Joly sold 9,591 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $72.45, for a total transaction of $694,867.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 364,791 shares of company stock worth $24,523,873. Insiders own 0.84% of the company’s stock.
Best Buy Co Inc (NYSE BBY) traded down $1.62 during mid-day trading on Wednesday, hitting $69.90. 5,157,413 shares of the company traded hands, compared to its average volume of 4,120,000. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 1.26. The firm has a market capitalization of $20,430.00, a PE ratio of 16.52, a P/E/G ratio of 1.00 and a beta of 1.09. Best Buy Co Inc has a twelve month low of $43.72 and a twelve month high of $78.59.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, March 1st. The technology retailer reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.37. The firm had revenue of $15.36 billion for the quarter, compared to analyst estimates of $14.52 billion. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. analysts predict that Best Buy Co Inc will post 4.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 22nd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, March 21st. This is a positive change from Best Buy’s previous quarterly dividend of $0.34. Best Buy’s dividend payout ratio (DPR) is presently 32.15%.
About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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