O Brien Greene & Co. Inc Cuts Holdings in Best Buy Co., Inc. (NYSE:BBY)

O Brien Greene & Co. Inc cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,181 shares of the technology retailer’s stock after selling 2,030 shares during the period. Best Buy accounts for about 2.2% of O Brien Greene & Co. Inc’s portfolio, making the stock its 19th biggest position. O Brien Greene & Co. Inc’s holdings in Best Buy were worth $7,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC boosted its position in Best Buy by 1.3% in the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock valued at $855,000 after buying an additional 103 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Best Buy by 1.2% in the 3rd quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after acquiring an additional 108 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock valued at $276,000 after acquiring an additional 118 shares during the last quarter. Tobam increased its stake in shares of Best Buy by 15.6% in the second quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after acquiring an additional 121 shares during the period. Finally, Hoxton Planning & Management LLC raised its holdings in shares of Best Buy by 3.7% during the third quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock worth $360,000 after purchasing an additional 124 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

NYSE BBY opened at $88.17 on Monday. 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’s 50 day simple moving average is $92.84 and its 200-day simple moving average is $89.97. The company has a market cap of $18.93 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 2.21 and a beta of 1.44. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71.

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

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.26%. Best Buy’s dividend payout ratio is presently 64.27%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BBY. Barclays increased their price target on Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Bank of America lifted their price target on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. Guggenheim lowered their price objective 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. Loop Capital dropped their price objective on shares of Best Buy from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, DA Davidson reiterated a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.06.

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.