Arkadios Wealth Advisors Sells 3,342 Shares of Best Buy Co., Inc. (NYSE:BBY)

Arkadios Wealth Advisors lessened its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,339 shares of the technology retailer’s stock after selling 3,342 shares during the quarter. Arkadios Wealth Advisors’ holdings in Best Buy were worth $286,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BBY. Harbor Capital Advisors Inc. bought a new stake in Best Buy during the 3rd quarter worth $40,000. LRI Investments LLC lifted its holdings 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 worth $40,000 after purchasing an additional 335 shares during the period. Brooklyn Investment Group bought a new stake in shares of Best Buy in the third quarter worth $44,000. Abich Financial Wealth Management LLC increased its holdings in Best Buy by 959.6% in the third quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer’s stock valued at $57,000 after purchasing an additional 499 shares during the period. Finally, Hershey Financial Advisers LLC bought a new position in Best Buy during the 2nd quarter worth $48,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on 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 in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays decreased their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. UBS Group dropped their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Telsey Advisory Group lowered their target price on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. Finally, StockNews.com cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Price Performance

Shares of BBY opened at $85.58 on Friday. The stock has a market cap of $18.30 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.12 and a beta of 1.43. The business’s fifty day moving average is $86.77 and its 200 day moving average is $90.17. 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 12-month low of $69.29 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (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 business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

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