AE Wealth Management LLC Purchases 3,462 Shares of Best Buy Co Inc (NYSE:BBY)

AE Wealth Management LLC grew its position in Best Buy Co Inc (NYSE:BBY) by 57.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,526 shares of the technology retailer’s stock after acquiring an additional 3,462 shares during the period. AE Wealth Management LLC’s holdings in Best Buy were worth $836,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in BBY. Unison Advisors LLC raised its position in Best Buy by 0.7% during the 4th quarter. Unison Advisors LLC now owns 21,826 shares of the technology retailer’s stock worth $1,927,000 after purchasing an additional 153 shares during the last quarter. Penserra Capital Management LLC raised its position in Best Buy by 8.3% during the 3rd quarter. Penserra Capital Management LLC now owns 2,160 shares of the technology retailer’s stock worth $148,000 after purchasing an additional 165 shares during the last quarter. Outlook Wealth Advisors LLC raised its position in Best Buy by 4.2% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 4,649 shares of the technology retailer’s stock worth $321,000 after purchasing an additional 189 shares during the last quarter. BKD Wealth Advisors LLC raised its position in Best Buy by 2.4% during the 4th quarter. BKD Wealth Advisors LLC now owns 8,213 shares of the technology retailer’s stock worth $721,000 after purchasing an additional 190 shares during the last quarter. Finally, Comerica Bank raised its position in Best Buy by 0.4% during the 3rd quarter. Comerica Bank now owns 46,796 shares of the technology retailer’s stock worth $3,375,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 77.74% of the company’s stock.

BBY stock opened at $89.94 on Tuesday. The stock has a 50-day moving average price of $86.66 and a 200-day moving average price of $74.82. Best Buy Co Inc has a 1-year low of $56.39 and a 1-year high of $91.83. The company has a current ratio of 1.05, a quick ratio of 0.27 and a debt-to-equity ratio of 1.10. The firm has a market cap of $23.27 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.10. Best Buy had a return on equity of 49.43% and a net margin of 3.54%. The firm had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.71 billion. During the same period last year, the company posted $0.93 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Best Buy Co Inc will post 5.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 37.59%.

Several brokerages recently issued reports on BBY. Royal Bank of Canada raised Best Buy to a “buy” rating and raised their target price for the stock from $74.00 to $86.00 in a research report on Wednesday, November 27th. Guggenheim reaffirmed a “buy” rating and set a $100.00 target price (up from $90.00) on shares of Best Buy in a research report on Thursday, January 9th. Wedbush reaffirmed a “hold” rating and set a $76.00 target price on shares of Best Buy in a research report on Tuesday, November 26th. Nomura raised their target price on Best Buy from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley raised their target price on Best Buy from $70.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. Best Buy currently has an average rating of “Hold” and an average price target of $84.63.

In other news, major shareholder Richard M. Schulze sold 1,106,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.69, for a total value of $89,243,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mathew Watson sold 1,105 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $82.29, for a total value of $90,930.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,105,051 shares of company stock valued at $169,112,718. Corporate insiders own 0.95% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

Featured Article: What does the Dogs of the Dow mean?

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co Inc (NYSE:BBY).

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.