Ex-Dividend Stocks: Best Buy, HollyFrontier

NEW YORK ( TheStreet) -- The following stocks go ex-dividend Friday, meaning an investor must purchase the shares Thursday to qualify for the next dividend payment: Best Buy ( BBY), HollyFrontier ( HFC), Newmont Mining ( NEM) and W.R. Berkley ( WRB).

Best Buy

The electronics retailer reported first-quarter earnings on May 22 of $158 million, or 46 cents a share, down from year-earlier earnings of $212 million, or 53 cents a share.

"We would classify Mike Mikan's (Interim CEO) first conference call as a success," Piper Jaffray analysts wrote in a May 23 report. "While no new strategic plan was unveiled, Mikan said BBY is working to develop a new strategic plan which will focus on ROIC as opposed to box growth. For Q1, while BBY topped consensus EPS, results (in our view) were slightly disappointing as the comp of -5.8% came in lighter than we estimated and the company benefited from an abnormally low tax rate. Some of the favorable initiatives outlined on yesterday's call may help BBY shares find near-term support but challenged top line trends are likely to limit any nearterm upside so we continue to remain Neutral on BBY shares. We are lowering our PT to $22 from $26 based on 6x F14E EPS of $3.68."

Forward Annual Dividend Yield: 3.3%

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HollyFrontier

The petroleum refiner reported first-quarter net income on May 7 of $241.7 million, or $1.16 a share, up from year-earlier earnings of $84.7 million, or 79 cents a share.

"We're upgrading HFC to Buy from Neutral following an 11% sell-off in the shares since mid-February," UBS analysts wrote in a June 1 report. "We see moderate upside to shares from the current level and view HFC's shareholder yield and cash position as defensive elements to shares."

Forward Annual Dividend Yield: 2%


Newmont Mining

The mining company reported first-quarter net income of $490 million, or 97 cents a share, down from year-earlier earnings of $514 million, or $1.03 a share.

"We believe Newmont shares are positioned to outperform given the company's focus on capital allocation, unique variable gold price-linked dividend policy and current valuation," Sterne Agee analysts wrote in a May 29 report. "Newmont ranks as our favorite large cap North American gold equity."

Forward Annual Dividend Yield: 2.9%

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W.R. Berkley

The insurance holding company reported first-quarter earnings on April 23 of $135.3 million, or 94 cents a share, up from year-earlier earnings of $115.6 million, or 78 cents a share.

"While we believe WRB will be able to successfully employ higher operating leverage as premium rates rebound, we believe the current P/B multiple fairly values the company at this time," BGB Securities analysts wrote in an April 25 report. "We do not expect excessive premium rate increases in the near term, and believe book value growth over the near term will not warrant multiple expansion beyond current levels. We downgrade WRB to HOLD from BUY."

Forward Annual Dividend Yield: 0.9%

-- Written by Alexandra Zendrian

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