Asset Management One Co. Ltd. Has $6.92 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Asset Management One Co. Ltd. decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 13.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 78,555 shares of the technology retailer’s stock after selling 11,786 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Best Buy were worth $6,915,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Best Buy in the 4th quarter valued at $32,000. Harbor Capital Advisors Inc. acquired a new stake in Best Buy during the 3rd quarter worth about $40,000. LRI Investments LLC boosted its position in Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after acquiring an additional 335 shares during the period. Trust Co. of Vermont boosted its position in Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Best Buy during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the subject of a number of research reports. Guggenheim decreased their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 29th. JPMorgan Chase & Co. raised their price target on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Telsey Advisory Group cut their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. Morgan Stanley cut their price target on Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Trading Up 2.2 %

BBY stock opened at $91.16 on Tuesday. The company has a market cap of $19.49 billion, a P/E ratio of 15.58, a PEG ratio of 2.01 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 quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $85.76 and a 200-day moving average of $90.13.

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

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.12%. Best Buy’s dividend payout ratio is currently 64.27%.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by insiders.

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.