Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Bank Hapoalim BM

Bank Hapoalim BM trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,870 shares of the technology retailer’s stock after selling 741 shares during the period. Bank Hapoalim BM’s holdings in Best Buy were worth $1,876,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBY. Nordea Investment Management AB lifted its position in Best Buy by 563.8% during the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock valued at $50,643,000 after buying an additional 503,204 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Best Buy by 817.4% during the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock worth $55,564,000 after purchasing an additional 479,256 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Best Buy by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after purchasing an additional 241,988 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Best Buy by 36.5% during the third quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer’s stock worth $73,016,000 after purchasing an additional 201,562 shares in the last quarter. Finally, TCW Group Inc. lifted its position in shares of Best Buy by 156.6% during the third quarter. TCW Group Inc. now owns 316,593 shares of the technology retailer’s stock worth $32,704,000 after purchasing an additional 193,209 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Up 1.5 %

Best Buy stock opened at $85.08 on Wednesday. The company has a 50-day simple moving average of $86.12 and a 200-day simple moving average of $90.13. The firm has a market capitalization of $18.19 billion, a P/E ratio of 14.54, a P/E/G ratio of 2.16 and a beta of 1.43. 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 one year low of $69.29 and a one year high of $103.71.

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

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is currently 64.27%.

Analysts Set New Price Targets

A number of research firms have recently commented on BBY. Barclays reduced their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Citigroup reduced their target price on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. DA Davidson reissued a “buy” rating and set a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. Wells Fargo & Company reduced their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 27th. Finally, Loop Capital restated a “buy” rating and issued a $100.00 price target on shares of Best Buy in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

About Best Buy

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.