Mutual Advisors LLC Sells 465 Shares of Best Buy Co., Inc. (NYSE:BBY)

Mutual Advisors LLC lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,615 shares of the technology retailer’s stock after selling 465 shares during the quarter. Mutual Advisors LLC’s holdings in Best Buy were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BBY. Sei Investments Co. increased its holdings in Best Buy by 2.2% during the 2nd quarter. Sei Investments Co. now owns 37,917 shares of the technology retailer’s stock worth $3,196,000 after acquiring an additional 818 shares during the period. Public Sector Pension Investment Board grew its position in shares of Best Buy by 67.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,120 shares of the technology retailer’s stock valued at $600,000 after purchasing an additional 2,865 shares in the last quarter. MBB Public Markets I LLC bought a new position in shares of Best Buy in the second quarter worth $1,047,000. The Manufacturers Life Insurance Company raised its position in shares of Best Buy by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 145,555 shares of the technology retailer’s stock worth $12,269,000 after buying an additional 5,197 shares in the last quarter. Finally, Ascent Group LLC increased its stake in Best Buy by 23.1% in the 2nd quarter. Ascent Group LLC now owns 8,643 shares of the technology retailer’s stock worth $729,000 after acquiring an additional 1,623 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BBY shares. Loop Capital restated a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a research report on Wednesday, December 18th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Guggenheim dropped their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. Telsey Advisory Group decreased their price objective on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Finally, DA Davidson reissued a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the 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 sale, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.59% of the stock is currently owned by company insiders.

Best Buy Price Performance

BBY opened at $86.72 on Wednesday. The firm has a market cap of $18.54 billion, a PE ratio of 14.82, a P/E/G ratio of 2.11 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The stock has a 50-day moving average price of $86.42 and a 200-day moving average price of $90.19.

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

Best Buy Dividend Announcement

The firm 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 4.34%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

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.