Level Four Advisory Services LLC Sells 1,311 Shares of Best Buy Co., Inc. (NYSE:BBY)

Level Four Advisory Services LLC lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 35,393 shares of the technology retailer’s stock after selling 1,311 shares during the quarter. Level Four Advisory Services LLC’s holdings in Best Buy were worth $3,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. increased its stake in shares of Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock valued at $29,000 after buying an additional 311 shares during the period. Golden State Wealth Management LLC acquired a new position in Best Buy in the 4th quarter valued at approximately $32,000. LRI Investments LLC raised its stake in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Best Buy during the fourth quarter worth $34,000. Finally, Trust Co. of Vermont increased its holdings in Best Buy by 1,200.0% in the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after purchasing an additional 384 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of a number of analyst reports. Bank of America reduced their price target on Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. DA Davidson decreased their target price on shares of Best Buy from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Jefferies Financial Group reduced their price objective on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their target price on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, Evercore ISI cut their price target on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a research report 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.50.

Best Buy Stock Down 3.5 %

Best Buy stock opened at $72.28 on Friday. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The firm’s fifty day moving average price is $82.51 and its two-hundred day moving average price is $88.31. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year 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 released its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate 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 previous year, the business earned $2.72 EPS. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be given a $0.95 dividend. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio is presently 88.99%.

Insider Buying and Selling at Best Buy

In related news, CAO Mathew Watson sold 3,182 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.29, for a total transaction of $226,844.78. Following the transaction, the chief accounting officer now directly owns 19,218 shares of the company’s stock, valued at $1,370,051.22. This trade represents 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 available at this link. Also, CEO Corie S. Barry acquired 13,500 shares of Best Buy stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $72.92 per share, with a total value of $984,420.00. Following the completion of the transaction, the chief executive officer now directly owns 378,780 shares in the company, valued at $27,620,637.60. This represents a 3.70 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 78,355 shares of company stock worth $5,767,213. Corporate insiders own 0.59% of the company’s stock.

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.