Donoghue Forlines LLC Sells 819 Shares of Best Buy Co., Inc. (NYSE:BBY)

Donoghue Forlines LLC cut its stake in Best Buy Co., Inc. (NYSE:BBY) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,837 shares of the technology retailer’s stock after selling 819 shares during the quarter. Donoghue Forlines LLC’s holdings in Best Buy were worth $643,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bfsg LLC bought a new position in Best Buy during the fourth quarter worth about $25,000. Rise Advisors LLC increased its position in Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after acquiring an additional 132 shares during the period. Naples Money Management LLC bought a new position in Best Buy during the fourth quarter worth about $27,000. Access Investment Management LLC bought a new position in Best Buy during the fourth quarter worth about $27,000. Finally, Palisade Asset Management LLC bought a new position in Best Buy during the first quarter worth about $27,000. 80.96% of the stock is owned by institutional investors.

Best Buy Trading Up 1.7 %

Shares of NYSE:BBY traded up $1.44 during mid-day trading on Tuesday, hitting $86.94. The company had a trading volume of 559,808 shares, compared to its average volume of 3,153,447. The firm has a fifty day moving average price of $81.94 and a 200 day moving average price of $78.32. The company has a market capitalization of $18.75 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.78 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.33. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $93.72.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, May 30th. The technology retailer reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.96 billion. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. Best Buy’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.11 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th were paid a dividend of $0.94 per share. The ex-dividend date was Thursday, June 20th. This represents a $3.76 dividend on an annualized basis and a yield of 4.32%. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

Analyst Upgrades and Downgrades

BBY has been the topic of a number of analyst reports. DA Davidson increased their price objective on shares of Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Citigroup upgraded shares of Best Buy from a “sell” rating to a “buy” rating and increased their price objective for the stock from $67.00 to $100.00 in a research note on Monday, June 3rd. Loop Capital increased their price objective on shares of Best Buy from $93.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Wedbush reiterated a “neutral” rating and set a $85.00 price objective on shares of Best Buy in a research note on Tuesday, May 28th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $95.00 price objective on shares of Best Buy in a research note on Thursday, May 30th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.87.

Insider Buying and Selling at Best Buy

In other Best Buy news, CEO Corie S. Barry sold 366 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the sale, the chief executive officer now owns 431,231 shares in the company, valued at approximately $32,670,060.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Best Buy news, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the transaction, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the transaction, the chairman now directly owns 15,890,103 shares in the company, valued at $1,364,165,342.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,004,129 shares of company stock worth $166,398,223. 0.59% of the stock is owned by corporate insiders.

About Best Buy

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.