Best Buy Co., Inc. (NYSE:BBY) Position Cut by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its stake in Best Buy Co., Inc. (NYSE:BBY) by 2.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 102,538 shares of the technology retailer’s stock after selling 2,719 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Best Buy were worth $8,798,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in shares of Best Buy during the fourth quarter valued at about $32,000. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy during the third quarter valued at about $40,000. LRI Investments LLC raised its stake 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 purchasing an additional 335 shares in the last quarter. Trust Co. of Vermont raised its stake 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 purchasing an additional 384 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Best Buy during the third quarter valued at about $44,000. 80.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BBY shares. Guggenheim cut their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Barclays cut their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. UBS Group lowered their target price on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. One research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Trading Up 2.2 %

NYSE:BBY opened at $91.16 on Tuesday. 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 fifty-two week low of $69.29 and a fifty-two week high of $103.71. The stock’s 50-day moving average is $85.76 and its two-hundred day moving average is $90.13. The stock has a market cap of $19.49 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its earnings results 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). 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 analysts’ expectations of $9.63 billion. During the same period last year, the firm earned $1.29 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.12%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Insider Buying and Selling at Best Buy

In other 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 transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.59% of the company’s stock.

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.