Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Greenleaf Trust

Greenleaf Trust lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,876 shares of the technology retailer’s stock after acquiring an additional 422 shares during the period. Greenleaf Trust’s holdings in Best Buy were worth $847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Best Buy by 563.8% during the 4th quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after purchasing an additional 503,204 shares during the last quarter. National Bank of Canada FI boosted its position in Best Buy by 817.4% during the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock worth $55,564,000 after acquiring an additional 479,256 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Best Buy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after acquiring an additional 241,988 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Best Buy by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer’s stock worth $73,016,000 after purchasing an additional 201,562 shares during the period. Finally, TCW Group Inc. boosted its holdings in shares of Best Buy by 156.6% during the third quarter. TCW Group Inc. now owns 316,593 shares of the technology retailer’s stock worth $32,704,000 after purchasing an additional 193,209 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Wells Fargo & Company cut their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Telsey Advisory Group cut their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. Finally, Loop Capital reissued a “buy” rating and set a $100.00 price objective on shares of Best Buy in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $101.72.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Price Performance

Shares of BBY stock opened at $83.78 on Tuesday. The firm has a fifty day simple moving average of $86.30 and a 200-day simple moving average of $90.16. The company has a market capitalization of $17.91 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The firm had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 earnings per share. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.49%. Best Buy’s dividend payout ratio is presently 64.27%.

Best Buy 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.