Entropy Technologies LP Reduces Position in Best Buy Co., Inc. (NYSE:BBY)

Entropy Technologies LP reduced its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 61.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,687 shares of the technology retailer’s stock after selling 12,072 shares during the period. Entropy Technologies LP’s holdings in Best Buy were worth $660,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on BBY. Loop Capital restated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. UBS Group decreased their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Citigroup cut their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley reduced their target price on Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Finally, Telsey Advisory Group dropped their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Best Buy currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Trading Down 0.0 %

NYSE BBY opened at $88.04 on Wednesday. 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 stock has a market capitalization of $18.82 billion, a P/E ratio of 15.05, a P/E/G ratio of 2.01 and a beta of 1.43. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The firm has a 50-day moving average price of $85.81 and a 200 day moving average price of $90.05.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (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 business had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period last year, the company posted $1.29 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.27%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Insider Activity

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.