Manchester Capital Management LLC Acquires 319 Shares of Best Buy Co., Inc. (NYSE:BBY)

Manchester Capital Management LLC increased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 75.2% during the 4th quarter, HoldingsChannel reports. The firm owned 743 shares of the technology retailer’s stock after buying an additional 319 shares during the period. Manchester Capital Management LLC’s holdings in Best Buy were worth $64,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BBY. Golden State Wealth Management LLC purchased a new position in Best Buy during the fourth quarter worth $32,000. Trust Co. of Vermont boosted its stake in Best Buy by 1,200.0% during the fourth 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 period. Harbor Capital Advisors Inc. purchased a new position in Best Buy during the third quarter worth $40,000. LRI Investments LLC boosted its stake in Best Buy by 632.1% during the third 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 period. Finally, Brooklyn Investment Group purchased a new position in Best Buy during the third quarter worth $44,000. Institutional investors own 80.96% of the company’s stock.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction 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 represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Performance

Shares of Best Buy stock opened at $91.16 on Friday. The company has a market capitalization of $19.49 billion, a PE ratio of 15.58, a P/E/G ratio of 2.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The company has a 50-day simple moving average of $85.76 and a two-hundred day simple moving average of $90.07. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Research analysts expect 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 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 dividend yield of 4.12%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Analyst Upgrades and Downgrades

Several research firms have commented on BBY. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Guggenheim dropped their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Barclays lowered their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Loop Capital reissued a “buy” rating and set a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. Finally, Morgan Stanley lowered their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

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.