Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,403 shares of the technology retailer’s stock after buying an additional 1,490 shares during the quarter. Apollon Wealth Management LLC’s holdings in Best Buy were worth $549,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Best Buy during the 4th quarter worth approximately $32,000. Trust Co. of Vermont lifted its position in shares of Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after purchasing an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Best Buy during the third quarter worth $40,000. LRI Investments LLC increased its holdings in Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after buying an additional 335 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Best Buy in the third quarter valued at $44,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BBY shares. Citigroup lowered their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Barclays dropped their price target 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. Loop Capital restated a “buy” rating and set a $100.00 price objective on shares of Best Buy in a research report on Wednesday, December 18th. Guggenheim lowered their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, Telsey Advisory Group cut their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Best Buy currently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s 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 sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.

Best Buy Trading Down 1.4 %

NYSE:BBY opened at $86.79 on Thursday. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $85.79 and its 200-day simple moving average is $90.06. The firm has a market cap of $18.56 billion, a P/E ratio of 14.84, a PEG ratio of 2.01 and a beta of 1.43.

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 the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. Equities analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.33%. 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.