3,581 Shares in Best Buy Co., Inc. (NYSE:BBY) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,581 shares of the technology retailer’s stock, valued at approximately $280,000.

Several other large investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Best Buy by 1.2% during the 1st quarter. BlackRock Inc. now owns 19,612,957 shares of the technology retailer’s stock worth $1,535,106,000 after buying an additional 223,536 shares during the period. State Street Corp boosted its holdings in Best Buy by 1.2% in the 1st quarter. State Street Corp now owns 10,152,129 shares of the technology retailer’s stock valued at $803,778,000 after purchasing an additional 123,256 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Best Buy by 32.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,885,308 shares of the technology retailer’s stock valued at $773,724,000 after purchasing an additional 2,409,006 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Best Buy by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,478,759 shares of the technology retailer’s stock valued at $311,139,000 after purchasing an additional 66,770 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Best Buy by 0.7% in the 1st quarter. Geode Capital Management LLC now owns 4,218,968 shares of the technology retailer’s stock valued at $329,735,000 after purchasing an additional 27,257 shares during the period. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Up 0.2 %

Shares of NYSE BBY opened at $76.15 on Friday. The firm has a market capitalization of $16.40 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.99 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 Co., Inc. has a 1 year low of $62.30 and a 1 year high of $86.11. The firm’s 50-day moving average is $77.96 and its 200-day moving average is $73.89.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $2.61 EPS. Best Buy’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts expect that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

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

Insider Buying and Selling

In other Best Buy news, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the transaction, the insider now owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Mathew Watson sold 2,505 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $204,909.00. Following the sale, the chief accounting officer now directly owns 25,638 shares in the company, valued at $2,097,188.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the sale, the insider now owns 25,912 shares in the company, valued at $2,119,601.60. The disclosure for this sale can be found here. Insiders have sold 52,023 shares of company stock valued at $4,253,900 in the last 90 days. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BBY. Morgan Stanley increased their price target on shares of Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Citigroup increased their price objective on shares of Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, March 1st. Wedbush increased their price objective on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Jefferies Financial Group dropped their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Finally, TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.60.

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.