PFG Investments LLC Reduces Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

PFG Investments LLC trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,024 shares of the technology retailer’s stock after selling 713 shares during the quarter. PFG Investments LLC’s holdings in Best Buy were worth $774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont grew its stake in Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after buying an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Best Buy during the 3rd quarter worth $40,000. LRI Investments LLC grew its stake in Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after buying an additional 335 shares during the last quarter. Brooklyn Investment Group purchased a new position in Best Buy during the 3rd quarter worth $44,000. Finally, Abich Financial Wealth Management LLC lifted its position in Best Buy by 959.6% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer’s stock worth $57,000 after acquiring an additional 499 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

NYSE BBY opened at $86.72 on Wednesday. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 2.11 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $86.42 and a 200 day moving average of $90.19.

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 firm had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter last year, the firm posted $1.29 earnings per share. Best Buy’s quarterly revenue was down 3.2% on a year-over-year basis. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders 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 annualized dividend and a yield of 4.34%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research reports. Loop Capital reaffirmed a “buy” rating and set a $100.00 price target on shares of Best Buy in a research report on Wednesday, December 18th. Barclays lowered their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Telsey Advisory Group lowered their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price target on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.59% of the stock is owned by company insiders.

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.