Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Rockland Trust Co.

Rockland Trust Co. lowered its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 15.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,915 shares of the technology retailer’s stock after selling 1,800 shares during the period. Rockland Trust Co.’s holdings in Best Buy were worth $851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. raised its stake in shares of Best Buy by 10.5% during the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after purchasing an additional 3,025 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Best Buy by 27.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after buying an additional 19,405 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Best Buy by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after buying an additional 18,171 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Best Buy in the 3rd quarter worth $2,384,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Best Buy by 82.2% in the third quarter. Toronto Dominion Bank now owns 102,292 shares of the technology retailer’s stock valued at $10,567,000 after acquiring an additional 46,152 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on BBY. UBS Group cut their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Telsey Advisory Group reduced their price target 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 price objective on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Loop Capital reiterated a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a research report on Wednesday, December 18th. Finally, Guggenheim lowered their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Best Buy has an average rating of “Moderate Buy” and an average price target of $100.72.

Best Buy Stock Performance

Shares of NYSE BBY opened at $83.12 on Thursday. The company has a 50-day simple moving average of $87.60 and a 200-day simple moving average of $90.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The company has a market cap of $17.77 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43. 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 announced 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 firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the business posted $1.29 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is 64.27%.

Best Buy Company 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.