Community Financial Services Group LLC Grows Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Community Financial Services Group LLC grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,538 shares of the technology retailer’s stock after buying an additional 974 shares during the quarter. Community Financial Services Group LLC’s holdings in Best Buy were worth $1,247,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Best Buy in the fourth quarter valued at $32,000. Trust Co. of Vermont boosted its stake in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after acquiring an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy during the third quarter worth about $40,000. LRI Investments LLC grew its stake in Best Buy by 632.1% in 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 during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Best Buy in the third quarter valued at $44,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Down 0.0 %

Shares of BBY stock opened at $88.04 on Wednesday. The firm has a market capitalization of $18.82 billion, a PE ratio of 15.05, a price-to-earnings-growth 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 stock has a fifty day moving average of $85.81 and a two-hundred day moving average of $90.05. 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 issued its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.27%. Best Buy’s dividend payout ratio is currently 64.27%.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The stock was 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 approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BBY shares. UBS Group dropped their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Barclays dropped their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Wells Fargo & Company cut their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. Loop Capital reaffirmed a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. 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 analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.72.

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.