Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Sabal Trust CO

Sabal Trust CO reduced its stake in Best Buy Co., Inc. (NYSE:BBY) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 209,720 shares of the technology retailer’s stock after selling 6,041 shares during the quarter. Sabal Trust CO owned 0.10% of Best Buy worth $17,994,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Best Buy in the 4th quarter valued at about $32,000. Trust Co. of Vermont increased its holdings in Best Buy by 1,200.0% in the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after buying an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy during the 3rd quarter valued at approximately $40,000. LRI Investments LLC boosted its stake in shares of 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 acquiring an additional 335 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Best Buy in the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 1.5 %

Shares of NYSE:BBY opened at $90.02 on Wednesday. The firm has a market cap of $19.25 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company has a fifty day simple moving average of $86.15 and a 200 day simple moving average of $90.52. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $9.63 billion. During the same period in the previous year, the business posted $1.29 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Insider Activity 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 shares were 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 directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BBY. Morgan Stanley dropped 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 report on Tuesday, January 21st. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Guggenheim decreased their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Wells Fargo & Company cut 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 Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.