NewSquare Capital LLC Acquires 171 Shares of Best Buy Co., Inc. (NYSE:BBY)

NewSquare Capital LLC increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,338 shares of the technology retailer’s stock after buying an additional 171 shares during the period. NewSquare Capital LLC’s holdings in Best Buy were worth $7,717,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of Best Buy by 563.8% during the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after purchasing an additional 503,204 shares during the period. National Bank of Canada FI raised its position in Best Buy by 817.4% during the 3rd quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock worth $55,564,000 after purchasing an additional 479,256 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Best Buy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock worth $328,136,000 after buying an additional 459,353 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Best Buy by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer’s stock worth $562,880,000 after buying an additional 395,415 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of Best Buy by 17.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,606,242 shares of the technology retailer’s stock valued at $137,816,000 after buying an additional 236,524 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the transaction, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.59% of the stock is currently owned by company insiders.

Best Buy Stock Down 13.1 %

Shares of NYSE:BBY opened at $75.40 on Wednesday. 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 Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The business’s 50 day simple moving average is $86.20 and its two-hundred day simple moving average is $90.62. The firm has a market cap of $16.12 billion, a P/E ratio of 12.89, a PEG ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period last year, the business earned $2.72 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.04%. Best Buy’s payout ratio is presently 64.27%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BBY shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Best Buy in a research note on Friday. Telsey Advisory Group restated an “outperform” rating and set a $110.00 price target on shares of Best Buy in a report on Thursday, February 27th. Barclays reduced their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. JPMorgan Chase & Co. lifted their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Guggenheim cut their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and an average target price of $101.33.

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.