Wilmington Savings Fund Society FSB Buys 335 Shares of Best Buy Co., Inc. (NYSE:BBY)

Wilmington Savings Fund Society FSB boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 14.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,730 shares of the technology retailer’s stock after acquiring an additional 335 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Best Buy were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BBY. Golden State Wealth Management LLC bought a new position in shares of Best Buy during the fourth quarter valued at $32,000. Harbor Capital Advisors Inc. bought a new position in shares of Best Buy during the third quarter valued at $40,000. LRI Investments LLC raised its stake in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after acquiring an additional 384 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Best Buy during the third quarter valued at $44,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 1.4 %

Shares of NYSE BBY opened at $86.79 on Thursday. The stock has a market capitalization of $18.56 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.01 and a beta of 1.43. The company has a 50-day moving average price of $85.79 and a 200-day moving average price of $90.06. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. 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 (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 earnings per share. On average, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Tuesday, December 17th. Best Buy’s payout ratio is currently 64.27%.

Insider Activity 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 shares were sold at an average price of $87.46, for a total transaction 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 $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.59% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BBY shares. Telsey Advisory Group dropped their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 27th. UBS Group lowered their target price on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Barclays lowered their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Finally, Loop Capital reissued a “buy” rating and set a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Best Buy has an average rating of “Moderate Buy” and a consensus 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.