Cozad Asset Management Inc. Sells 225 Shares of Best Buy Co., Inc. (NYSE:BBY)

Cozad Asset Management Inc. trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,474 shares of the technology retailer’s stock after selling 225 shares during the period. Cozad Asset Management Inc.’s holdings in Best Buy were worth $2,271,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BBY. Cibc World Markets Corp raised its stake in shares of Best Buy by 14.9% in the fourth quarter. Cibc World Markets Corp now owns 31,227 shares of the technology retailer’s stock valued at $2,679,000 after purchasing an additional 4,053 shares in the last quarter. Gitterman Wealth Management LLC bought a new stake in Best Buy in the 4th quarter valued at $263,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Best Buy by 30.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 102,219 shares of the technology retailer’s stock valued at $8,770,000 after buying an additional 23,849 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Best Buy by 16.8% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 107,600 shares of the technology retailer’s stock worth $9,232,000 after acquiring an additional 15,475 shares during the period. Finally, PGGM Investments boosted its position in shares of Best Buy by 515.1% during the 4th quarter. PGGM Investments now owns 13,021 shares of the technology retailer’s stock valued at $1,117,000 after acquiring an additional 10,904 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. DA Davidson dropped their price target 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 cut their target price on Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company lowered their price target on Best Buy from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Bank of America cut their price objective on Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $93.50.

Best Buy Price Performance

Shares of BBY stock opened at $73.70 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.10 and a beta of 1.43. The stock has a 50-day moving average price of $84.18 and a 200 day moving average price of $89.77.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the previous year, the company earned $2.72 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

Insider Buying and Selling

In related news, CEO Corie S. Barry bought 13,500 shares of Best Buy stock in a transaction on 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 completion of the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.