Steward Partners Investment Advisory LLC Has $9.66 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Steward Partners Investment Advisory LLC increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,592 shares of the technology retailer’s stock after buying an additional 7,040 shares during the quarter. Steward Partners Investment Advisory LLC owned about 0.05% of Best Buy worth $9,660,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Focus Financial Network Inc. bought a new position in shares of Best Buy in the third quarter worth $200,000. Harbor Capital Advisors Inc. bought a new position in Best Buy in the 3rd quarter valued at about $40,000. Robeco Institutional Asset Management B.V. raised its position in shares of Best Buy by 15.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 451,609 shares of the technology retailer’s stock valued at $46,651,000 after buying an additional 59,883 shares in the last quarter. National Pension Service lifted its holdings in shares of Best Buy by 18.1% during the 3rd quarter. National Pension Service now owns 397,504 shares of the technology retailer’s stock worth $41,062,000 after acquiring an additional 60,880 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of Best Buy by 27.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after acquiring an additional 19,405 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $90.00 target price on shares of Best Buy in a report on Monday. Citigroup reduced their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Guggenheim lowered their target price 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. Telsey Advisory Group restated an “outperform” rating and issued a $110.00 price target on shares of Best Buy in a research note on Thursday, February 27th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Best Buy in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.33.

Best Buy Price Performance

Best Buy stock opened at $75.40 on Wednesday. The firm has a market cap of $16.12 billion, a P/E ratio of 12.89, a P/E/G ratio of 2.10 and a beta of 1.43. The stock’s 50 day moving average is $86.20 and its 200 day moving average is $90.62. 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 one year low of $69.29 and a one year high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the prior year, the firm posted $2.72 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be given a $0.95 dividend. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.04%. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Insider Activity

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is owned by company insiders.

Best Buy Company 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.