Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Greenleaf Trust

Greenleaf Trust cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 14.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,727 shares of the technology retailer’s stock after selling 1,174 shares during the period. Greenleaf Trust’s holdings in Best Buy were worth $527,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in Best Buy by 8.4% during the 4th quarter. Cerity Partners LLC now owns 103,459 shares of the technology retailer’s stock worth $8,100,000 after buying an additional 8,042 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in Best Buy during the 4th quarter worth approximately $317,000. Mirabella Financial Services LLP acquired a new stake in Best Buy during the 3rd quarter worth approximately $831,000. Van ECK Associates Corp lifted its holdings in Best Buy by 35.6% during the 3rd quarter. Van ECK Associates Corp now owns 94,282 shares of the technology retailer’s stock worth $6,550,000 after buying an additional 24,763 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd lifted its holdings in Best Buy by 1,405.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 214,232 shares of the technology retailer’s stock worth $14,883,000 after buying an additional 200,000 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Best Buy

In other Best Buy news, insider Todd G. Hartman sold 3,973 shares of Best Buy 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 in the company, valued at $2,119,601.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Mathew Watson sold 3,520 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $82.43, for a total transaction of $290,153.60. Following the transaction, the chief accounting officer now directly owns 22,118 shares in the company, valued at $1,823,186.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd G. Hartman sold 3,973 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the transaction, the insider now 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 worth $4,253,900. 0.56% of the stock is owned by company insiders.

Best Buy Price Performance

Shares of NYSE:BBY opened at $75.13 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37. The firm has a market capitalization of $16.18 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.99 and a beta of 1.49. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11. The company’s fifty day moving average price is $77.94 and its 200 day moving average price is $74.03.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. Best Buy’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.61 earnings per share. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.03 earnings per share 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. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 dividend on an annualized basis and a yield of 5.00%. Best Buy’s payout ratio is currently 66.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a report on Thursday, February 29th. Citigroup raised their price objective on shares of Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a report on Friday, March 1st. The Goldman Sachs Group raised their price objective on shares of Best Buy from $81.00 to $90.00 and gave the company a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $89.00 to $101.00 in a report on Friday, March 22nd. Finally, Telsey Advisory Group upgraded shares of Best Buy from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $85.00 to $95.00 in a report on Wednesday, March 20th. One equities 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 stock. Based on data from MarketBeat, Best Buy currently has an average rating of “Hold” and a consensus price target of $84.60.

Best Buy Company 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.