Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 15.4% in the fourth quarter, Holdings Channel reports. The firm owned 21,124 shares of the technology retailer’s stock after selling 3,847 shares during the period. Capital Investment Advisors LLC’s holdings in Best Buy were worth $1,812,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans increased its position in shares of Best Buy by 4,337.6% during the second quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after acquiring an additional 1,074,718 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Best Buy by 563.8% during the 4th quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after purchasing an additional 503,204 shares during the period. AQR Capital Management LLC increased its holdings in Best Buy by 55.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after purchasing an additional 491,781 shares during the last quarter. National Bank of Canada FI raised its position in Best Buy by 817.4% in the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock valued at $55,564,000 after purchasing an additional 479,256 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Best Buy during the second quarter worth $25,287,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.59% of the stock is currently owned by company insiders.

Best Buy Stock Performance

Shares of Best Buy stock opened at $84.33 on Tuesday. 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. The firm’s 50 day moving average is $87.80 and its two-hundred day moving average is $90.21. The firm has a market capitalization of $18.03 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.19 and a beta of 1.43.

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

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.46%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Analyst Ratings Changes

BBY has been the subject of a number of research reports. Telsey Advisory Group dropped their price objective on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. DA Davidson reiterated a “buy” rating and set a $117.00 price target on shares of Best Buy in a research note on Tuesday, October 15th. Truist Financial reduced their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. UBS Group dropped their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Guggenheim reduced their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, eight have assigned 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.72.

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.