Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 60.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,280 shares of the technology retailer’s stock after selling 101,437 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Best Buy were worth $5,776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBY. Apollon Wealth Management LLC raised its position in Best Buy by 6.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 4,913 shares of the technology retailer’s stock valued at $507,000 after purchasing an additional 279 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Best Buy in the 3rd quarter valued at $443,000. Oppenheimer Asset Management Inc. purchased a new stake in Best Buy in the 3rd quarter valued at $2,384,000. Oppenheimer & Co. Inc. purchased a new stake in Best Buy in the 3rd quarter valued at $678,000. Finally, Huntington National Bank raised its position in Best Buy by 22.0% in the 3rd quarter. Huntington National Bank now owns 2,102 shares of the technology retailer’s stock valued at $217,000 after purchasing an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other Best Buy news, CEO Corie S. Barry purchased 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the acquisition, the chief executive officer now owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.59% of the stock is currently owned by insiders.

Best Buy Price Performance

BBY opened at $71.56 on Friday. The company’s 50 day simple moving average is $84.40 and its 200 day simple moving average is $89.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The stock has a market capitalization of $15.30 billion, a PE ratio of 12.23, a P/E/G ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period last year, the company earned $2.72 earnings per share. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be given a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.31%. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Guggenheim cut their price objective on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Loop Capital restated a “negative” rating on shares of Best Buy in a research report on Wednesday, March 5th. Bank of America cut their price objective on shares of Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Finally, UBS Group set a $105.00 price objective on shares of Best Buy in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $93.50.

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.