Andra AP fonden Sells 267,794 Shares of Best Buy Co., Inc. (NYSE:BBY)

Andra AP fonden decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 59.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 181,306 shares of the technology retailer’s stock after selling 267,794 shares during the period. Andra AP fonden’s holdings in Best Buy were worth $15,556,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Best Buy during the fourth quarter valued at approximately $32,000. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy during the third quarter valued at approximately $40,000. LRI Investments LLC raised its position in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after buying an additional 335 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after buying an additional 384 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Best Buy during the third quarter valued at approximately $44,000. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Loop Capital reduced their price objective on shares of Best Buy from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday. Guggenheim reduced their price objective on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday. Wedbush reissued a “neutral” rating and issued a $90.00 target price on shares of Best Buy in a report on Monday, March 3rd. UBS Group reissued a “buy” rating and issued a $105.00 target price (down from $115.00) on shares of Best Buy in a report on Friday, February 28th. Finally, Citigroup cut their target price on shares of Best Buy from $105.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Best Buy Stock Up 1.3 %

NYSE:BBY opened at $79.66 on Friday. 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 $17.03 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The stock has a fifty day simple moving average of $85.58 and a 200-day simple moving average of $90.39. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

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

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be issued a $0.95 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is presently 88.99%.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated Wednesday, December 11th. The stock was 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 directly owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

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.