SG Americas Securities LLC Sells 99,480 Shares of Best Buy Co., Inc. (NYSE:BBY)

SG Americas Securities LLC decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 37.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,908 shares of the technology retailer’s stock after selling 99,480 shares during the quarter. SG Americas Securities LLC owned 0.08% of Best Buy worth $14,149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Janney Capital Management LLC grew its holdings in shares of Best Buy by 64.6% during the fourth quarter. Janney Capital Management LLC now owns 175,841 shares of the technology retailer’s stock worth $15,087,000 after purchasing an additional 68,990 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Best Buy by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 55,516 shares of the technology retailer’s stock worth $4,815,000 after purchasing an additional 3,132 shares in the last quarter. Alpha Cubed Investments LLC grew its holdings in shares of Best Buy by 4.2% during the fourth quarter. Alpha Cubed Investments LLC now owns 7,595 shares of the technology retailer’s stock worth $652,000 after purchasing an additional 304 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Best Buy by 11.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,430 shares of the technology retailer’s stock worth $3,211,000 after purchasing an additional 3,783 shares in the last quarter. Finally, Wealth Management Partners LLC purchased a new position in shares of Best Buy during the fourth quarter worth about $343,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of Best Buy stock opened at $85.58 on Friday. 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 company has a market cap of $18.30 billion, a PE ratio of 14.63, a P/E/G ratio of 2.12 and a beta of 1.43. The business has a 50 day moving average of $86.77 and a 200 day moving average of $90.17. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71.

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

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors 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 dividend on an annualized basis and a dividend yield of 4.39%. Best Buy’s dividend payout ratio is presently 64.27%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Telsey Advisory Group cut their price objective on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. upped their target price on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Loop Capital reaffirmed a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. UBS Group cut their target price on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and a consensus target price of $101.72.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction 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 owns 92,070 shares in the company, valued at approximately $8,052,442.20. This 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 can be accessed through this link. 0.59% of the stock is owned by corporate 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.