Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Signaturefd LLC

Signaturefd LLC trimmed its holdings in Best Buy Co., Inc. (NYSE:BBY) by 26.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,584 shares of the technology retailer’s stock after selling 568 shares during the period. Signaturefd LLC’s holdings in Best Buy were worth $124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BBY. Hartford Financial Management Inc. increased its position in shares of Best Buy by 56.5% during the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock worth $30,000 after purchasing an additional 140 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Best Buy by 4.0% in the 4th quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after acquiring an additional 148 shares during the period. Allworth Financial LP lifted its holdings in shares of Best Buy by 14.6% in the 3rd quarter. Allworth Financial LP now owns 1,215 shares of the technology retailer’s stock worth $84,000 after acquiring an additional 155 shares during the last quarter. Estate Counselors LLC increased its holdings in Best Buy by 1.1% in the 3rd quarter. Estate Counselors LLC now owns 15,290 shares of the technology retailer’s stock valued at $1,062,000 after purchasing an additional 160 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Best Buy by 14.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,341 shares of the technology retailer’s stock valued at $96,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 3,520 shares of Best Buy stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total value of $290,153.60. Following the completion of the sale, the chief accounting officer now owns 22,118 shares in the company, valued at approximately $1,823,186.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Mathew Watson sold 3,520 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $82.43, for a total value of $290,153.60. Following the sale, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corie S. Barry sold 28,042 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the completion of the sale, the chief executive officer now owns 429,159 shares of the company’s stock, valued at $35,105,206.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,023 shares of company stock worth $4,253,900. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BBY. UBS Group lifted their price objective on Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group boosted their price target on shares of Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Morgan Stanley raised their price objective on shares of Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Telsey Advisory Group raised shares of Best Buy from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $95.00 in a research note on Wednesday, March 20th. Finally, Barclays boosted their price target on shares of Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and an average price target of $84.60.

Best Buy Stock Down 0.1 %

BBY opened at $75.00 on Tuesday. The business’s fifty day simple moving average is $78.04 and its 200 day simple moving average is $74.20. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $86.11. The firm has a market cap of $16.15 billion, a P/E ratio of 13.18, a PEG ratio of 1.96 and a beta of 1.49. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. During the same period in the previous year, the firm posted $2.61 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.03 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were given a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.01%. This is an increase from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s payout ratio is currently 66.08%.

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.