MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Best Buy Co., Inc. (NYSE:BBY)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,967 shares of the technology retailer’s stock after buying an additional 3,867 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Best Buy were worth $4,201,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Best Buy by 5.2% during the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock worth $218,000 after buying an additional 125 shares in the last quarter. Mariner LLC boosted its holdings in Best Buy by 0.3% during the fourth quarter. Mariner LLC now owns 43,215 shares of the technology retailer’s stock worth $3,708,000 after buying an additional 129 shares in the last quarter. LRI Investments LLC lifted its holdings in Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer’s stock valued at $45,000 after purchasing an additional 141 shares in the last quarter. Rothschild Investment LLC lifted its holdings in Best Buy by 19.7% during the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock valued at $74,000 after purchasing an additional 142 shares in the last quarter. Finally, Independent Advisor Alliance lifted its holdings in Best Buy by 5.0% during the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock valued at $258,000 after purchasing an additional 142 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 51,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the completion of the sale, the chief financial officer now directly owns 55,856 shares in the company, valued at approximately $4,144,515.20. This trade represents a 47.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Corie S. Barry purchased 13,500 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the transaction, the chief executive officer now owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. The trade was a 3.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 78,355 shares of company stock worth $5,767,213. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on BBY shares. Jefferies Financial Group decreased their price objective on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company decreased their price objective on shares of Best Buy from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 5th. UBS Group set a $105.00 price objective on shares of Best Buy in a report on Wednesday, March 5th. Finally, DA Davidson reaffirmed a “buy” rating and set a $110.00 price objective on shares of Best Buy in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and a consensus price target of $90.72.

Best Buy Price Performance

Best Buy stock opened at $71.53 on Tuesday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71. The stock has a market cap of $15.14 billion, a P/E ratio of 12.23, a PEG ratio of 2.10 and a beta of 1.27. The company has a 50-day moving average price of $67.88 and a 200 day moving average price of $80.07. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period last year, the business earned $2.72 earnings per share. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were given a dividend of $0.95 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend was Tuesday, March 25th. Best Buy’s dividend payout ratio (DPR) is presently 88.99%.

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.