PUREfi Wealth LLC Makes New $365,000 Investment in Best Buy Co., Inc. (NYSE:BBY)

PUREfi Wealth LLC bought a new position in Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,259 shares of the technology retailer’s stock, valued at approximately $365,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Greenleaf Trust grew its position in Best Buy by 1.2% during the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock worth $977,000 after buying an additional 108 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in Best Buy by 4.6% during the third quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock worth $276,000 after buying an additional 118 shares in the last quarter. Yousif Capital Management LLC grew its position in Best Buy by 0.5% during the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after buying an additional 145 shares in the last quarter. Access Investment Management LLC grew its position in Best Buy by 12.2% during the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after buying an additional 150 shares in the last quarter. Finally, Claro Advisors LLC boosted its holdings in shares of Best Buy by 5.7% in the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock worth $246,000 after purchasing an additional 154 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Trading Up 2.2 %

BBY opened at $91.16 on Friday. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The firm has a market capitalization of $19.49 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 2.01 and a beta of 1.43. The business has a 50 day simple moving average of $85.70 and a two-hundred day simple moving average of $90.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBY) last announced its earnings results 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). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. During the same period in the prior year, the company posted $1.29 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. Analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Analysts Set New Price Targets

BBY has been the subject of a number of research reports. Barclays cut their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Telsey Advisory Group cut their price objective on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. Wells Fargo & Company cut their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Wednesday, November 27th. Morgan Stanley cut their price objective on Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Finally, StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.59% of the company’s stock.

Best Buy 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.