Nisa Investment Advisors LLC Has $4.82 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Nisa Investment Advisors LLC increased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,516 shares of the technology retailer’s stock after acquiring an additional 3,132 shares during the period. Nisa Investment Advisors LLC’s holdings in Best Buy were worth $4,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its position 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 buying an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Best Buy during the 3rd quarter worth $40,000. LRI Investments LLC boosted its holdings in Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after acquiring an additional 335 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Best Buy in the third quarter valued at about $44,000. Finally, Hershey Financial Advisers LLC purchased a new stake in shares of Best Buy in the second quarter valued at about $48,000. 80.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays reduced 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 research report on Thursday, January 9th. Citigroup decreased their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Telsey Advisory Group cut their price objective on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price objective on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Stock Down 1.0 %

BBY stock opened at $84.80 on Friday. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The firm has a market capitalization of $18.13 billion, a PE ratio of 14.50, a PEG ratio of 2.11 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a 50-day simple moving average of $86.65 and a two-hundred day simple moving average of $90.14.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS 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 firm had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period in the prior year, the firm posted $1.29 EPS. Best Buy’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed 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 4.43%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio is 64.27%.

Insider Buying and Selling

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 owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.59% of the stock is owned by company insiders.

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.