Crossmark Global Holdings Inc. Purchases 3,783 Shares of Best Buy Co., Inc. (NYSE:BBY)

Crossmark Global Holdings Inc. lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,430 shares of the technology retailer’s stock after acquiring an additional 3,783 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Best Buy were worth $3,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Management Partners LLC acquired a new position in Best Buy in the 4th quarter valued at approximately $343,000. My Legacy Advisors LLC increased its holdings in Best Buy by 28.0% in the fourth quarter. My Legacy Advisors LLC now owns 3,226 shares of the technology retailer’s stock valued at $268,000 after purchasing an additional 706 shares during the period. Aaron Wealth Advisors LLC bought a new position in Best Buy during the 4th quarter worth $253,000. Bowman & Co S.C. lifted its holdings in Best Buy by 3.2% during the 4th quarter. Bowman & Co S.C. now owns 13,300 shares of the technology retailer’s stock worth $1,141,000 after buying an additional 412 shares during the period. Finally, Kera Capital Partners Inc. bought a new stake in shares of Best Buy in the 4th quarter valued at about $212,000. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BBY. Loop Capital reissued a “buy” rating and set a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. Telsey Advisory Group cut their target price on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. Citigroup lowered their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Morgan Stanley cut 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.72.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.59% of the company’s stock.

Best Buy Price Performance

Shares of NYSE BBY opened at $83.95 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The firm’s 50-day simple moving average is $86.91 and its 200 day simple moving average is $90.22. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 2.06 and a beta of 1.43.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS 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 during the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts anticipate 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 paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.48%. Best Buy’s payout ratio is presently 64.27%.

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.