Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its holdings in Best Buy Co., Inc. (NYSE:BBY) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,211 shares of the technology retailer’s stock after selling 4,956 shares during the period. Natixis Advisors LLC’s holdings in Best Buy were worth $9,542,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in Best Buy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer’s stock valued at $562,880,000 after acquiring an additional 395,415 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Best Buy in the fourth quarter valued at approximately $514,483,000. Geode Capital Management LLC lifted its stake in Best Buy by 2.5% during the third quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock worth $499,954,000 after purchasing an additional 120,185 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Best Buy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock worth $328,136,000 after purchasing an additional 459,353 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Best Buy by 17.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,606,242 shares of the technology retailer’s stock worth $137,816,000 after purchasing an additional 236,524 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Performance

NYSE:BBY opened at $73.52 on Friday. The firm has a market capitalization of $15.72 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The business’s fifty day moving average price is $83.54 and its 200 day moving average price is $89.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating the consensus estimate of $2.40 by $0.18. The firm had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter in the prior year, the company posted $2.72 earnings per share. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. The ex-dividend date is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.17%. This is a boost from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s payout ratio is 88.99%.

Insider Transactions at Best Buy

In other news, CAO Mathew Watson sold 3,182 shares of Best Buy stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78. Following the sale, the chief accounting officer now owns 19,218 shares in the company, valued at approximately $1,370,051.22. The trade was a 14.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Corie S. Barry bought 13,500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the transaction, the chief executive officer now directly owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on BBY. Loop Capital restated a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. KeyCorp restated a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their price target on Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. DA Davidson decreased their price target on Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Guggenheim decreased their price target on Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $93.50.

About Best Buy

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.