Jump Financial LLC Acquires 4,706 Shares of Best Buy Co., Inc. (NYSE:BBY)

Jump Financial LLC raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 81.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,517 shares of the technology retailer’s stock after purchasing an additional 4,706 shares during the period. Jump Financial LLC’s holdings in Best Buy were worth $902,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stevens Capital Management LP grew its stake in Best Buy by 228.7% during the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer’s stock worth $1,941,000 after buying an additional 15,741 shares during the last quarter. Invesco Ltd. grew its stake in Best Buy by 20.5% during the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer’s stock valued at $316,784,000 after purchasing an additional 629,180 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Best Buy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer’s stock worth $1,971,908,000 after purchasing an additional 191,161 shares during the last quarter. Pinnacle Financial Partners Inc acquired a new stake in shares of Best Buy during the fourth quarter worth about $3,293,000. Finally, APG Asset Management N.V. purchased a new stake in Best Buy in the fourth quarter valued at approximately $9,073,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 51,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the sale, the chief financial officer now owns 55,856 shares of the company’s stock, valued at $4,144,515.20. This trade represents a 47.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corie S. Barry purchased 13,500 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, with a total value of $984,420.00. Following the acquisition, the chief executive officer now directly owns 378,780 shares in the company, valued at $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 78,355 shares of company stock valued at $5,767,213. 0.59% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BBY has been the subject of several research reports. Loop Capital restated a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their price target on shares of Best Buy from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley reduced their price objective on Best Buy from $100.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Citigroup restated a “neutral” rating and issued a $70.00 target price (down previously from $93.00) on shares of Best Buy in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. decreased their price target on Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.28.

Best Buy Price Performance

Shares of NYSE BBY opened at $62.24 on Tuesday. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The firm has a 50-day simple moving average of $74.44 and a 200-day simple moving average of $83.70. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

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

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were paid a $0.95 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $3.80 annualized dividend and a dividend yield of 6.11%. Best Buy’s payout ratio is 88.99%.

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.