Twin Capital Management Inc. Sells 330 Shares of Best Buy Co., Inc. (NYSE:BBY)

Twin Capital Management Inc. decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,451 shares of the technology retailer’s stock after selling 330 shares during the period. Twin Capital Management Inc.’s holdings in Best Buy were worth $818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BBY. Private Advisor Group LLC raised its stake in shares of Best Buy by 29.2% during the first quarter. Private Advisor Group LLC now owns 5,547 shares of the technology retailer’s stock valued at $504,000 after acquiring an additional 1,252 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of Best Buy by 1.1% during the first quarter. Yousif Capital Management LLC now owns 39,097 shares of the technology retailer’s stock valued at $3,554,000 after acquiring an additional 415 shares during the last quarter. Aviva PLC raised its stake in shares of Best Buy by 31.1% during the first quarter. Aviva PLC now owns 105,369 shares of the technology retailer’s stock valued at $9,578,000 after acquiring an additional 24,977 shares during the last quarter. Prudential PLC bought a new position in shares of Best Buy during the first quarter valued at $499,000. Finally, Cetera Investment Advisers raised its stake in shares of Best Buy by 6.3% during the first quarter. Cetera Investment Advisers now owns 5,144 shares of the technology retailer’s stock valued at $468,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Up 0.2 %

NYSE:BBY opened at $76.15 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $16.40 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.99 and a beta of 1.49. The firm has a fifty day simple moving average of $77.96 and a two-hundred day simple moving average of $73.89. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. The business had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $2.61 earnings per share. Analysts expect that Best Buy Co., Inc. will post 6.03 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.94%. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. Best Buy’s dividend payout ratio (DPR) is 66.08%.

Insider Buying and Selling at Best Buy

In other Best Buy news, insider Todd G. Hartman sold 3,973 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the transaction, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Best Buy news, CEO Corie S. Barry sold 28,042 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $2,293,835.60. Following the transaction, the chief executive officer now directly owns 429,159 shares of the company’s stock, valued at $35,105,206.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd G. Hartman sold 3,973 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the transaction, the insider now directly owns 25,912 shares in the company, valued at $2,119,601.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,023 shares of company stock valued at $4,253,900. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BBY shares. Morgan Stanley raised their price target on shares of Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Jefferies Financial Group dropped their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 8th. TheStreet raised shares of Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Wedbush increased their price objective on shares of Best Buy from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $89.00 to $101.00 in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and an average target price of $84.60.

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.