Moody National Bank Trust Division Sells 173 Shares of Best Buy Co., Inc. (NYSE:BBY)

Moody National Bank Trust Division lowered its position in shares of Best Buy Co., Inc. (NYSE:BBYFree Report) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,337 shares of the technology retailer’s stock after selling 173 shares during the period. Moody National Bank Trust Division’s holdings in Best Buy were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in Best Buy by 4,337.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock worth $92,677,000 after buying an additional 1,074,718 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Best Buy by 563.8% in the 4th 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. AQR Capital Management LLC grew its holdings in shares of Best Buy by 55.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after purchasing an additional 491,781 shares during the last quarter. National Bank of Canada FI raised its position in Best Buy by 817.4% in the 3rd 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 period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Best Buy in the second quarter worth $25,287,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of BBY stock opened at $82.66 on Wednesday. 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 company’s fifty day moving average price is $87.60 and its 200-day moving average price is $90.20. The stock has a market cap of $17.67 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.19 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.

Best Buy (NYSE:BBYGet Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 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 the consensus estimate of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. On average, equities analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is 64.27%.

Insider Activity at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the 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 owns 92,070 shares in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BBY has been the topic of a number of recent research reports. UBS Group reduced their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Guggenheim reduced their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Melius Research started coverage on Best Buy in a research report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price objective for the company. Telsey Advisory Group cut their target price on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Finally, Wells Fargo & Company lowered their price target 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.72.

Read Our Latest Stock Analysis on BBY

Best Buy Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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