Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,093 shares of the technology retailer’s stock after purchasing an additional 160 shares during the period. Best Buy accounts for about 0.8% of Disciplined Equity Management Inc.’s investment portfolio, making the stock its 23rd largest position. Disciplined Equity Management Inc.’s holdings in Best Buy were worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bfsg LLC acquired a new stake in shares of Best Buy during the 4th quarter worth about $25,000. Naples Money Management LLC acquired a new stake in shares of Best Buy in the fourth quarter worth approximately $27,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Best Buy by 549.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 302 shares during the last quarter. Hartford Financial Management Inc. boosted its position in shares of Best Buy by 56.5% in the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock worth $30,000 after acquiring an additional 140 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its position in shares of Best Buy by 81.9% in the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock worth $29,000 after acquiring an additional 185 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $2,293,835.60. Following the completion of the sale, the chief executive officer now owns 429,159 shares in the company, valued at $35,105,206.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Best Buy news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $2,293,835.60. Following the completion of the transaction, the chief executive officer now owns 429,159 shares of the company’s stock, valued at $35,105,206.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the transaction, the insider now directly owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,023 shares of company stock worth $4,253,900. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BBY shares. Jefferies Financial Group decreased their target price on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Citigroup raised their target price on shares of Best Buy from $67.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Barclays raised their target price on shares of Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. UBS Group raised their target price on shares of Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Morgan Stanley raised their target price on shares of Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.60.

Best Buy Stock Down 0.8 %

Shares of BBY traded down $0.61 during mid-day trading on Wednesday, reaching $74.43. 3,493,339 shares of the stock traded hands, compared to its average volume of 3,000,345. The firm has a market cap of $16.03 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.96 and a beta of 1.49. The stock has a fifty day simple moving average of $77.98 and a 200 day simple moving average of $74.08. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $86.11. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.61 earnings per share. Sell-side analysts expect that Best Buy Co., Inc. will post 6.03 EPS for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Wednesday, March 20th. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s payout ratio is 66.08%.

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.