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

Magnolia Capital Advisors LLC reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,544 shares of the technology retailer’s stock after selling 914 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Best Buy were worth $1,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Trust Co. of Vermont boosted its stake in shares of Best Buy by 1,200.0% during the 4th 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. Harbor Capital Advisors Inc. acquired a new stake in Best Buy in the third quarter worth $40,000. LRI Investments LLC increased its position in Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after buying an additional 335 shares during the period. Brooklyn Investment Group bought a new position in shares of Best Buy in the third quarter worth $44,000. Finally, Richardson Financial Services Inc. grew its stake in shares of Best Buy by 71.9% in the fourth quarter. Richardson Financial Services Inc. now owns 550 shares of the technology retailer’s stock worth $47,000 after purchasing an additional 230 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BBY shares. StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Guggenheim reduced their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Barclays reduced their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Citigroup cut their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, DA Davidson reissued a “buy” rating and issued a $117.00 price objective on shares of Best Buy in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.72.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on 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 transaction, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $85.73 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $18.33 billion, a PE ratio of 14.65, a PEG ratio of 2.14 and a beta of 1.43. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The business’s 50 day moving average is $86.30 and its 200-day moving average is $90.16.

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

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were given a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.39%. Best Buy’s payout ratio is 64.27%.

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.