My Legacy Advisors LLC Raises Holdings in Best Buy Co., Inc. (NYSE:BBY)

My Legacy Advisors LLC increased its position in Best Buy Co., Inc. (NYSE:BBY) by 28.0% in the 4th quarter, HoldingsChannel reports. The fund owned 3,226 shares of the technology retailer’s stock after purchasing an additional 706 shares during the period. My Legacy Advisors LLC’s holdings in Best Buy were worth $268,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont increased its stake in shares of Best Buy by 1,200.0% in the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after purchasing an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Best Buy in the 3rd quarter worth approximately $40,000. LRI Investments LLC grew its stake in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after buying an additional 335 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Best Buy by 50.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer’s stock valued at $42,000 after acquiring an additional 166 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Best Buy in the third quarter worth $44,000. 80.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Guggenheim dropped their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Melius Research assumed coverage on shares of Best Buy in a research report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Loop Capital reissued a “buy” rating and issued a $100.00 price target on shares of Best Buy in a report on Wednesday, December 18th. Finally, Telsey Advisory Group decreased their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. One equities research 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 company. According to data from MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and an average price target of $100.72.

Best Buy Price Performance

Shares of Best Buy stock opened at $81.91 on Monday. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 2.09 and a beta of 1.43. The company has a fifty day moving average of $87.17 and a 200-day moving average of $90.15. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY) last announced 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). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same period last year, the business posted $1.29 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.59% of the company’s stock.

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.