Global Retirement Partners LLC Decreases Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Global Retirement Partners LLC lessened its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,350 shares of the technology retailer’s stock after selling 2,231 shares during the quarter. Global Retirement Partners LLC’s holdings in Best Buy were worth $631,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. raised its position in shares of Best Buy by 10.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after buying an additional 3,025 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Best Buy by 27.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after buying an additional 19,405 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Best Buy by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after buying an additional 18,171 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its position in shares of Best Buy by 48.6% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer’s stock valued at $2,265,000 after buying an additional 8,640 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in shares of Best Buy during the 4th quarter valued at approximately $453,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on BBY shares. Morgan Stanley reduced their price target on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Loop Capital reiterated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Citigroup dropped their target price on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Guggenheim dropped their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Stock Performance

NYSE:BBY opened at $89.80 on Friday. The company has a fifty day simple moving average of $86.10 and a two-hundred day simple moving average of $90.30. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.29 earnings per share. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.19%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

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.