Louisiana State Employees Retirement System Sells 600 Shares of Best Buy Co., Inc. (NYSE:BBY)

Louisiana State Employees Retirement System lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 5.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,500 shares of the technology retailer’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Best Buy were worth $901,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in shares of Best Buy by 563.8% during the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock valued at $50,643,000 after purchasing an additional 503,204 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Best Buy by 817.4% during the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock worth $55,564,000 after purchasing an additional 479,256 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Best Buy by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after purchasing an additional 241,988 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Best Buy by 36.5% during the third quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer’s stock worth $73,016,000 after purchasing an additional 201,562 shares during the last quarter. Finally, TCW Group Inc. raised its holdings in shares of Best Buy by 156.6% during the third quarter. TCW Group Inc. now owns 316,593 shares of the technology retailer’s stock worth $32,704,000 after purchasing an additional 193,209 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of BBY opened at $91.16 on Tuesday. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. 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 stock has a market cap of $19.49 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43. The stock’s 50-day moving average price is $85.76 and its two-hundred day moving average price is $90.13.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The business had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current 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 given a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.12%. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Telsey Advisory Group cut 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. Barclays decreased their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. UBS Group decreased their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Loop Capital restated a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a report on Wednesday, December 18th. Finally, Wells Fargo & Company decreased 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 report on Wednesday, November 27th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.72.

About Best Buy

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.