Cozad Asset Management Inc. Sells 225 Shares of Best Buy Co., Inc. (NYSE:BBY)

Cozad Asset Management Inc. cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,474 shares of the technology retailer’s stock after selling 225 shares during the period. Cozad Asset Management Inc.’s holdings in Best Buy were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cibc World Markets Corp raised its position in shares of Best Buy by 14.9% during the fourth quarter. Cibc World Markets Corp now owns 31,227 shares of the technology retailer’s stock worth $2,679,000 after purchasing an additional 4,053 shares during the period. Gitterman Wealth Management LLC acquired a new position in shares of Best Buy in the 4th quarter valued at approximately $263,000. Envestnet Portfolio Solutions Inc. increased its stake in Best Buy by 30.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 102,219 shares of the technology retailer’s stock worth $8,770,000 after purchasing an additional 23,849 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Best Buy by 16.8% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 107,600 shares of the technology retailer’s stock worth $9,232,000 after buying an additional 15,475 shares during the period. Finally, PGGM Investments lifted its stake in Best Buy by 515.1% in the fourth quarter. PGGM Investments now owns 13,021 shares of the technology retailer’s stock valued at $1,117,000 after buying an additional 10,904 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BBY. DA Davidson dropped their price objective on shares of Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Barclays dropped their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Morgan Stanley reduced their price objective on Best Buy from $100.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their target price on Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, UBS Group set a $105.00 price target on Best Buy in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $93.50.

Insider Activity

In related news, CEO Corie S. Barry acquired 13,500 shares of the stock in a transaction 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 purchase, the chief executive officer now directly owns 378,780 shares in the company, valued at approximately $27,620,637.60. The trade was a 3.70 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.59% of the stock is owned by company insiders.

Best Buy Price Performance

Shares of NYSE BBY opened at $73.70 on Tuesday. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The company has a market cap of $15.76 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The business’s 50 day moving average price is $84.18 and its two-hundred day moving average price is $89.77. 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 (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter last year, the firm posted $2.72 EPS. On average, analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. The ex-dividend date 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 5.16%. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

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.