Exxonmobil Investment Management Inc. TX reduced its stake in shares of Best Buy Co Inc (NYSE:BBY) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,439 shares of the technology retailer’s stock after selling 8,012 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Best Buy were worth $2,769,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in BBY. Fieldpoint Private Securities LLC purchased a new position in shares of Best Buy during the 3rd quarter worth about $139,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Best Buy by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after acquiring an additional 163 shares during the period. Smithfield Trust Co. purchased a new position in shares of Best Buy during the 3rd quarter worth about $178,000. Keybank National Association OH purchased a new position in shares of Best Buy during the 2nd quarter worth about $200,000. Finally, Fiera Capital Corp purchased a new position in shares of Best Buy during the 2nd quarter worth about $229,000. Institutional investors and hedge funds own 88.45% of the company’s stock.
In other news, insider Shari L. Ballard sold 40,018 shares of Best Buy stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the sale, the insider now owns 99,304 shares in the company, valued at $5,578,898.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total transaction of $58,800,000.00. The disclosure for this sale can be found here. Insiders have sold 3,134,253 shares of company stock worth $191,063,125 in the last quarter. Insiders own 1.21% of the company’s stock.
Shares of Best Buy Co Inc (BBY) opened at $73.25 on Friday. The stock has a market cap of $21,412.95, a P/E ratio of 18.22, a PEG ratio of 1.38 and a beta of 1.38. Best Buy Co Inc has a 12 month low of $41.67 and a 12 month high of $73.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25.
Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. sell-side analysts forecast that Best Buy Co Inc will post 4.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.86%. Best Buy’s dividend payout ratio is currently 34.34%.
Several research analysts have recently weighed in on the stock. Wedbush set a $38.00 price objective on shares of Best Buy and gave the stock a “sell” rating in a report on Monday, January 8th. Moffett Nathanson assumed coverage on shares of Best Buy in a report on Monday, December 4th. They issued a “sell” rating on the stock. Deutsche Bank set a $56.00 price target on shares of Best Buy and gave the company a “hold” rating in a report on Friday, November 17th. Loop Capital set a $72.00 price target on shares of Best Buy and gave the company a “buy” rating in a report on Thursday, November 16th. Finally, Oppenheimer restated a “hold” rating on shares of Best Buy in a report on Thursday, November 16th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $59.14.
About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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