Naples Money Management LLC Invests $27,000 in Best Buy Co., Inc. (NYSE:BBY)

Naples Money Management LLC purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 340 shares of the technology retailer’s stock, valued at approximately $27,000.

A number of other institutional investors also recently bought and sold shares of BBY. Hartford Financial Management Inc. raised its stake in Best Buy by 56.5% during the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after buying an additional 140 shares during the last quarter. UMB Bank n.a. increased its position in Best Buy by 4.0% during the fourth quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after acquiring an additional 148 shares during the last quarter. Allworth Financial LP lifted its holdings in Best Buy by 14.6% in the third quarter. Allworth Financial LP now owns 1,215 shares of the technology retailer’s stock valued at $84,000 after acquiring an additional 155 shares during the period. Pathstone Family Office LLC grew its stake in shares of Best Buy by 2.2% during the 4th quarter. Pathstone Family Office LLC now owns 7,321 shares of the technology retailer’s stock valued at $593,000 after purchasing an additional 157 shares during the period. Finally, Estate Counselors LLC increased its position in shares of Best Buy by 1.1% during the 3rd quarter. Estate Counselors LLC now owns 15,290 shares of the technology retailer’s stock valued at $1,062,000 after purchasing an additional 160 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on BBY. Jefferies Financial Group cut their target price on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Telsey Advisory Group raised Best Buy from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $95.00 in a report on Wednesday, March 20th. Citigroup boosted their price target on Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a report on Friday, March 1st. The Goldman Sachs Group raised their price objective on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Morgan Stanley boosted their price objective on Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.60.

Insider Activity at Best Buy

In other Best Buy news, CEO Corie S. Barry sold 28,042 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the transaction, the chief executive officer now owns 429,159 shares of the company’s stock, valued at approximately $35,105,206.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Best Buy news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $2,293,835.60. Following the transaction, the chief executive officer now owns 429,159 shares in the company, valued at $35,105,206.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Corie S. Barry sold 366 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The disclosure for this sale can be found here. Insiders sold 52,023 shares of company stock worth $4,253,900 over the last three months. 0.56% of the stock is owned by corporate insiders.

Best Buy Trading Up 0.2 %

NYSE BBY opened at $76.15 on Friday. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11. The company’s 50-day moving average price is $77.96 and its 200-day moving average price is $73.89. The stock has a market cap of $16.40 billion, a PE ratio of 13.38, a PEG ratio of 1.98 and a beta of 1.49. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38.

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

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were paid a dividend of $0.94 per share. The ex-dividend date was Wednesday, March 20th. This represents a $3.76 annualized dividend and a dividend yield of 4.94%. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio (DPR) is currently 66.08%.

Best Buy 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.