SG Americas Securities LLC Sells 99,480 Shares of Best Buy Co., Inc. (NYSE:BBY)

SG Americas Securities LLC decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 37.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 164,908 shares of the technology retailer’s stock after selling 99,480 shares during the quarter. SG Americas Securities LLC’s holdings in Best Buy were worth $14,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BBY. Sei Investments Co. increased its holdings in shares of Best Buy by 2.2% during the second quarter. Sei Investments Co. now owns 37,917 shares of the technology retailer’s stock valued at $3,196,000 after acquiring an additional 818 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Best Buy by 5.8% during the second quarter. ProShare Advisors LLC now owns 39,595 shares of the technology retailer’s stock valued at $3,337,000 after acquiring an additional 2,184 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Best Buy by 67.3% during the second quarter. Public Sector Pension Investment Board now owns 7,120 shares of the technology retailer’s stock valued at $600,000 after acquiring an additional 2,865 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Best Buy by 25.0% during the second quarter. Evergreen Capital Management LLC now owns 5,607 shares of the technology retailer’s stock valued at $478,000 after acquiring an additional 1,123 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Best Buy by 3.9% during the second quarter. Bank of Montreal Can now owns 191,851 shares of the technology retailer’s stock valued at $16,603,000 after acquiring an additional 7,123 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BBY. Citigroup reduced their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Morgan Stanley dropped their price objective on Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Telsey Advisory Group dropped their price objective on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Guggenheim dropped 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was 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 of the company’s stock, valued at $8,052,442.20. This trade represents 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 through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Up 2.0 %

NYSE BBY opened at $85.58 on Friday. The stock’s 50-day moving average price is $86.77 and its 200-day moving average price is $90.17. 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 52 week low of $69.29 and a 52 week high of $103.71. The company has a market capitalization of $18.30 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 2.12 and a beta of 1.43.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. During the same period last year, the business earned $1.29 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current 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 paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is currently 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.