Best Buy Co., Inc. (NYSE:BBY) Holdings Increased by White Pine Capital LLC

White Pine Capital LLC increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,013 shares of the technology retailer’s stock after acquiring an additional 363 shares during the period. White Pine Capital LLC’s holdings in Best Buy were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BBY. Golden State Wealth Management LLC bought a new position in Best Buy during the 4th quarter valued at $32,000. Harbor Capital Advisors Inc. bought a new position in Best Buy during the third quarter valued at about $40,000. LRI Investments LLC grew its holdings in Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after acquiring an additional 335 shares during the period. Trust Co. of Vermont raised its position in 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 acquiring an additional 384 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Best Buy in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the company’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 sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents 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 link. 0.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BBY. UBS Group lowered their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Telsey Advisory Group dropped their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company decreased their price objective 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. JPMorgan Chase & Co. increased their price objective on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley reduced their price target on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Trading Up 2.8 %

Shares of Best Buy stock opened at $89.24 on Friday. The company’s fifty day moving average price is $85.71 and its two-hundred day moving average price is $90.04. The firm has a market capitalization of $19.08 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43. 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 current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same quarter in the prior year, the business earned $1.29 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Tuesday, December 17th. Best Buy’s payout ratio is 64.27%.

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.