Nisa Investment Advisors LLC reduced its holdings in shares of Best Buy Co Inc (NYSE:BBY) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 72,345 shares of the technology retailer’s stock after selling 6,253 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Best Buy were worth $4,953,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of BBY. Fieldpoint Private Securities LLC bought a new stake in Best Buy during the third quarter worth $139,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Best Buy by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after buying an additional 163 shares during the period. Smithfield Trust Co. bought a new stake in shares of Best Buy in the third quarter valued at $178,000. Fiera Capital Corp bought a new stake in shares of Best Buy in the second quarter valued at $229,000. Finally, Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Best Buy in the fourth quarter valued at $231,000. Institutional investors and hedge funds own 88.52% of the company’s stock.
In related news, insider Shari L. Ballard sold 40,018 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the completion of the transaction, the insider now directly owns 99,304 shares in the company, valued at $5,578,898.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Richard M. Schulze sold 250,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.83, for a total value of $16,707,500.00. Following the transaction, the insider now owns 1,732,500 shares of the company’s stock, valued at $115,782,975. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,134,253 shares of company stock valued at $191,063,125. 0.84% of the stock is owned by company insiders.
Best Buy Co Inc (NYSE BBY) opened at $72.40 on Wednesday. The firm has a market capitalization of $21,412.92, a price-to-earnings ratio of 18.28, a PEG ratio of 1.37 and a beta of 1.38. Best Buy Co Inc has a 52-week low of $41.67 and a 52-week high of $74.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52.
Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. analysts anticipate that Best Buy Co Inc will post 4.02 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, December 6th. Best Buy’s dividend payout ratio (DPR) is presently 34.34%.
BBY has been the topic of several research reports. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, October 10th. Piper Jaffray Companies restated a “buy” rating and issued a $68.00 target price on shares of Best Buy in a research note on Thursday, September 21st. UBS Group restated a “buy” rating and issued a $57.00 target price (down from $60.00) on shares of Best Buy in a research note on Wednesday, September 20th. Jefferies Group restated a “buy” rating and issued a $60.00 target price on shares of Best Buy in a research note on Wednesday, September 20th. Finally, Loop Capital restated a “buy” rating and issued a $72.00 target price on shares of Best Buy in a research note on Wednesday, September 20th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $59.58.
About Best Buy
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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