Center for Financial Planning Inc. Sells 320 Shares of Best Buy Co., Inc. (NYSE:BBY)

Center for Financial Planning Inc. trimmed its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,069 shares of the technology retailer’s stock after selling 320 shares during the quarter. Center for Financial Planning Inc.’s holdings in Best Buy were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Best Buy during the 4th quarter worth approximately $32,000. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy in the 3rd quarter worth approximately $40,000. LRI Investments LLC grew its position in shares of Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after buying an additional 335 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after buying an additional 384 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Best Buy in the 3rd quarter worth approximately $44,000. 80.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of recent analyst reports. Barclays cut their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. JPMorgan Chase & Co. raised their target price on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Citigroup lowered their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company lowered their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 27th. Finally, Loop Capital reiterated a “buy” rating and set a $100.00 price objective on shares of Best Buy in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Stock Up 2.2 %

BBY stock opened at $91.16 on Friday. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The business has a fifty day moving average price of $85.70 and a 200-day moving average price of $90.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock has a market capitalization of $19.49 billion, a P/E ratio of 15.58, a P/E/G ratio of 2.01 and a beta of 1.43.

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 return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. During the same period in the previous year, the firm earned $1.29 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.12%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio is presently 64.27%.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s 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 of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

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.