Mitsubishi UFJ Trust & Banking Corp Sells 43,239 Shares of Best Buy Co., Inc. (NYSE:BBY)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBYFree Report) by 10.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 375,914 shares of the technology retailer’s stock after selling 43,239 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.17% of Best Buy worth $26,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd increased its stake in shares of Best Buy by 46.8% during the second quarter. Covestor Ltd now owns 442 shares of the technology retailer’s stock valued at $36,000 after purchasing an additional 141 shares in the last quarter. Longfellow Investment Management Co. LLC increased its position in shares of Best Buy by 4.2% during the second quarter. Longfellow Investment Management Co. LLC now owns 3,819 shares of the technology retailer’s stock valued at $313,000 after acquiring an additional 155 shares in the last quarter. Allworth Financial LP increased its position in shares of Best Buy by 14.6% during the third quarter. Allworth Financial LP now owns 1,215 shares of the technology retailer’s stock valued at $84,000 after acquiring an additional 155 shares in the last quarter. Pathstone Family Office LLC increased its position in shares of Best Buy by 2.2% during the fourth quarter. Pathstone Family Office LLC now owns 7,321 shares of the technology retailer’s stock valued at $593,000 after acquiring an additional 157 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in shares of Best Buy by 3.2% during the second quarter. Johnson Investment Counsel Inc. now owns 5,135 shares of the technology retailer’s stock valued at $421,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.

Best Buy Trading Up 0.1 %

Shares of Best Buy stock opened at $75.60 on Monday. The company’s fifty day simple moving average is $74.99 and its 200-day simple moving average is $72.95. The stock has a market capitalization of $16.28 billion, a PE ratio of 13.03, a P/E/G ratio of 1.98 and a beta of 1.49. Best Buy Co., Inc. has a 1-year low of $62.30 and a 1-year high of $89.23. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.23.

Best Buy (NYSE:BBYGet Free Report) last issued its quarterly earnings results on Tuesday, November 21st. The technology retailer reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The business had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Best Buy had a net margin of 2.93% and a return on equity of 49.13%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.38 EPS. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.16 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Tuesday, December 12th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, December 11th. Best Buy’s dividend payout ratio (DPR) is 63.45%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BBY shares. The Goldman Sachs Group raised shares of Best Buy from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $85.00 in a research report on Thursday, October 19th. UBS Group reduced their price target on shares of Best Buy from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday, November 13th. TheStreet downgraded shares of Best Buy from a “b-” rating to a “c” rating in a research report on Monday, November 20th. Telsey Advisory Group reduced their price target on shares of Best Buy from $80.00 to $75.00 and set a “market perform” rating for the company in a research report on Friday, November 17th. Finally, Evercore ISI dropped their target price on shares of Best Buy from $75.00 to $70.00 and set an “in-line” rating on the stock in a report on Wednesday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.43.

Get Our Latest Report on BBY

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 110,974 shares of Best Buy stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $77.00, for a total transaction of $8,544,998.00. Following the transaction, the chairman now owns 19,566,458 shares in the company, valued at approximately $1,506,617,266. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Best Buy news, Chairman Richard M. Schulze sold 313,728 shares of Best Buy stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $76.97, for a total value of $24,147,644.16. Following the sale, the chairman now directly owns 199,448 shares in the company, valued at approximately $15,351,512.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 110,974 shares of Best Buy stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $77.00, for a total transaction of $8,544,998.00. Following the completion of the sale, the chairman now owns 19,566,458 shares in the company, valued at $1,506,617,266. The disclosure for this sale can be found here. In the last quarter, insiders have sold 686,796 shares of company stock worth $52,374,450. 0.56% of the stock is owned by corporate insiders.

About Best Buy

(Free Report)

Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

Read More

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.