Comprehensive Financial Consultants Institutional Inc. Purchases 1,898 Shares of Best Buy Co., Inc. (NYSE:BBY)

Comprehensive Financial Consultants Institutional Inc. grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,344 shares of the technology retailer’s stock after purchasing an additional 1,898 shares during the quarter. Best Buy makes up approximately 1.5% of Comprehensive Financial Consultants Institutional Inc.’s holdings, making the stock its 16th biggest holding. Comprehensive Financial Consultants Institutional Inc.’s holdings in Best Buy were worth $4,062,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BBY. Nordea Investment Management AB boosted its stake in Best Buy by 563.8% in the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock valued at $50,643,000 after acquiring an additional 503,204 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Best Buy by 817.4% in the 3rd quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock worth $55,564,000 after purchasing an additional 479,256 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Best Buy by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after purchasing an additional 241,988 shares during the period. Franklin Resources Inc. increased its holdings in Best Buy by 36.5% in the third quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer’s stock valued at $73,016,000 after purchasing an additional 201,562 shares during the last quarter. Finally, TCW Group Inc. lifted its stake in Best Buy by 156.6% in the third quarter. TCW Group Inc. now owns 316,593 shares of the technology retailer’s stock valued at $32,704,000 after buying an additional 193,209 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BBY shares. Telsey Advisory Group lowered their target price on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. Citigroup lowered their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. DA Davidson reissued a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. Finally, Guggenheim dropped their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Best Buy presently has an average rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Trading Down 1.3 %

Shares of NYSE:BBY opened at $85.73 on Friday. The company’s 50-day moving average price is $86.30 and its two-hundred day moving average price is $90.14. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. 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 stock has a market capitalization of $18.33 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 2.14 and a beta of 1.43.

Best Buy (NYSE:BBY) last released 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 net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same period in the prior year, the firm posted $1.29 EPS. Best Buy’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Tuesday, December 17th. Best Buy’s payout ratio is presently 64.27%.

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.