Green Square Capital LLC decreased its holdings in Best Buy Co Inc (NYSE:BBY) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,913 shares of the technology retailer’s stock after selling 1,954 shares during the period. Green Square Capital LLC’s holdings in Best Buy were worth $7,183,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. boosted its stake in shares of Best Buy by 15.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the technology retailer’s stock valued at $357,000 after purchasing an additional 689 shares in the last quarter. Community Bank & Trust Waco Texas boosted its stake in shares of Best Buy by 5.5% in the 4th quarter. Community Bank & Trust Waco Texas now owns 15,205 shares of the technology retailer’s stock valued at $1,041,000 after purchasing an additional 789 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Best Buy by 3.7% in the 4th quarter. New Mexico Educational Retirement Board now owns 25,521 shares of the technology retailer’s stock valued at $1,747,000 after purchasing an additional 900 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Best Buy by 9.5% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,556 shares of the technology retailer’s stock valued at $601,000 after purchasing an additional 920 shares in the last quarter. Finally, ARGI Investment Services LLC boosted its stake in shares of Best Buy by 6.1% in the 3rd quarter. ARGI Investment Services LLC now owns 16,310 shares of the technology retailer’s stock valued at $926,000 after purchasing an additional 940 shares in the last quarter. 85.11% of the stock is owned by institutional investors.
Shares of Best Buy Co Inc (NYSE BBY) opened at $67.25 on Friday. Best Buy Co Inc has a 12-month low of $44.56 and a 12-month high of $78.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. The company has a market cap of $20,006.83, a PE ratio of 20.50, a PEG ratio of 0.95 and a beta of 1.09.
Best Buy (NYSE:BBY) last posted its earnings results on Thursday, March 1st. The technology retailer reported $2.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.37. The firm had revenue of $15.36 billion during the quarter, compared to analysts’ expectations of $14.52 billion. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted $1.93 EPS. research analysts predict that Best Buy Co Inc will post 4.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 22nd will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.68%. This is a positive change from Best Buy’s previous quarterly dividend of $0.34. The ex-dividend date is Wednesday, March 21st. Best Buy’s dividend payout ratio (DPR) is presently 54.88%.
BBY has been the subject of a number of research reports. Loop Capital set a $80.00 price objective on shares of Best Buy and gave the company a “buy” rating in a research note on Tuesday, January 16th. ValuEngine raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $74.00 price objective (up previously from $60.00) on shares of Best Buy in a research note on Tuesday, February 27th. Bank of America increased their price target on shares of Best Buy from $78.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, March 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $74.00 price target (up previously from $66.00) on shares of Best Buy in a research report on Friday, March 2nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $69.42.
In related news, Director Gerard R. Vittecoq sold 23,684 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $74.12, for a total value of $1,755,458.08. Following the completion of the transaction, the director now directly owns 40,128 shares in the company, valued at approximately $2,974,287.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Corie S. Barry sold 399 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $72.45, for a total transaction of $28,907.55. Following the completion of the transaction, the chief financial officer now owns 81,206 shares of the company’s stock, valued at $5,883,374.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 356,785 shares of company stock valued at $24,999,914. 1.21% of the stock is owned by company insiders.
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Best Buy Profile
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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