Lodge Hill Capital LLC acquired a new stake in shares of Best Buy Co Inc (NYSE:BBY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 410,000 shares of the technology retailer’s stock, valued at approximately $28,073,000. Best Buy accounts for about 3.1% of Lodge Hill Capital LLC’s investment portfolio, making the stock its 12th largest position. Lodge Hill Capital LLC owned 0.14% of Best Buy at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Best Buy by 232.8% during the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock valued at $139,000 after purchasing an additional 1,420 shares during the period. Fieldpoint Private Securities LLC bought a new stake in Best Buy in the 3rd quarter valued at $139,000. Squar Milner Financial Services LLC bought a new stake in Best Buy in the 4th quarter valued at $201,000. Harbour Capital Advisors LLC bought a new stake in Best Buy in the 4th quarter valued at $205,000. Finally, Smithfield Trust Co. bought a new stake in Best Buy in the 3rd quarter valued at $178,000. Hedge funds and other institutional investors own 85.73% of the company’s stock.
BBY has been the subject of a number of recent research reports. Wedbush set a $38.00 price objective on shares of Best Buy and gave the stock a “sell” rating in a research note on Monday, January 8th. Moffett Nathanson initiated coverage on shares of Best Buy in a research note on Monday, December 4th. They issued a “sell” rating for the company. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a research note on Friday, February 2nd. Barclays lifted their price target on shares of Best Buy from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Finally, Loop Capital set a $72.00 price target on shares of Best Buy and gave the stock a “buy” rating in a research note on Thursday, November 16th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Best Buy currently has an average rating of “Hold” and an average price target of $69.25.
In other Best Buy news, major shareholder Richard M. Schulze sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.19, for a total transaction of $4,889,250.00. Following the sale, the insider now owns 1,732,500 shares of the company’s stock, valued at approximately $112,941,675. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mathew Watson sold 990 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $77.21, for a total transaction of $76,437.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 364,791 shares of company stock valued at $24,523,873. 0.84% of the stock is currently owned by company insiders.
Best Buy Co Inc (BBY) traded down $1.62 during trading hours on Wednesday, hitting $69.90. 5,157,413 shares of the stock traded hands, compared to its average volume of 4,120,000. Best Buy Co Inc has a twelve month low of $43.72 and a twelve month high of $78.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 1.26. The company has a market cap of $20,430.00, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.00 and a beta of 1.09.
Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, March 1st. The technology retailer reported $2.42 EPS for the quarter, topping the consensus estimate of $2.05 by $0.37. The firm had revenue of $15.36 billion during the quarter, compared to analyst estimates of $14.52 billion. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. Best Buy’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. sell-side analysts expect that Best Buy Co Inc will post 4.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 22nd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Wednesday, March 21st. This is a positive change from Best Buy’s previous quarterly dividend of $0.34. Best Buy’s payout ratio is 32.15%.
Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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