Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA lessened its holdings in Best Buy Co., Inc. (NYSE:BBY) by 27.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,500 shares of the technology retailer’s stock after selling 2,860 shares during the period. Berkshire Asset Management LLC PA’s holdings in Best Buy were worth $635,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BBY. Golden State Wealth Management LLC purchased a new stake in shares of Best Buy during the fourth quarter worth approximately $32,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the 3rd quarter valued at approximately $40,000. LRI Investments LLC raised its holdings 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 valued at $40,000 after purchasing an additional 335 shares in the last quarter. Trust Co. of Vermont raised its holdings 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 valued at $36,000 after purchasing an additional 384 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Best Buy during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by company insiders.

Best Buy Stock Up 1.3 %

Shares of NYSE:BBY opened at $79.66 on Friday. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. 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 firm’s 50-day simple moving average is $85.58 and its 200-day simple moving average is $90.39. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter in the previous year, the company earned $2.72 EPS. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Tuesday, March 25th. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio is currently 88.99%.

Analyst Ratings Changes

A number of analysts have weighed in on BBY shares. Morgan Stanley cut their price target on Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Barclays cut their target price 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. Loop Capital reduced their price target on shares of Best Buy from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their target price on Best Buy from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, KeyCorp reissued a “sector weight” rating on shares of Best Buy in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.50.

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.