Blue Trust Inc. Trims Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Blue Trust Inc. lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 83.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 913 shares of the technology retailer’s stock after selling 4,539 shares during the period. Blue Trust Inc.’s holdings in Best Buy were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Yousif Capital Management LLC raised its holdings in shares of Best Buy by 0.5% during the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after purchasing an additional 145 shares during the last quarter. Access Investment Management LLC increased its holdings in Best Buy by 12.2% in the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock valued at $143,000 after buying an additional 150 shares in the last quarter. Claro Advisors LLC increased its holdings in Best Buy by 5.7% in the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after buying an additional 154 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in Best Buy by 14.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,243 shares of the technology retailer’s stock valued at $107,000 after buying an additional 155 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in Best Buy by 1.2% in the third quarter. Empirical Finance LLC now owns 15,012 shares of the technology retailer’s stock valued at $1,551,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.59% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on BBY. Wells Fargo & Company cut their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Wednesday, November 27th. Morgan Stanley dropped their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their target price on shares of Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Citigroup dropped their target price on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Loop Capital reiterated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Best Buy has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Price Performance

Shares of BBY stock opened at $89.80 on Monday. The firm’s 50-day moving average is $86.10 and its two-hundred day moving average is $90.43. The company has a market capitalization of $19.20 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.43. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. 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 (NYSE:BBY) last released its quarterly earnings results 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). The company had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. Best Buy’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.29 earnings per share. Analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.19%. The ex-dividend date was Tuesday, December 17th. Best Buy’s payout ratio is currently 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.