Livforsakringsbolaget Skandia Omsesidigt Cuts Holdings in Best Buy Co., Inc. (NYSE:BBY)

Livforsakringsbolaget Skandia Omsesidigt decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 98.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 387 shares of the technology retailer’s stock after selling 25,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Best Buy were worth $30,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BBY. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Best Buy by 549.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 302 shares during the last quarter. Stonebridge Capital Advisors LLC increased its holdings in shares of Best Buy by 81.9% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock valued at $29,000 after acquiring an additional 185 shares during the last quarter. Hartford Financial Management Inc. increased its holdings in shares of Best Buy by 56.5% in the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 140 shares during the last quarter. Clear Street Markets LLC increased its holdings in shares of Best Buy by 90.6% in the 1st quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 183 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Best Buy by 30.5% in the 3rd quarter. Clearstead Advisors LLC now owns 724 shares of the technology retailer’s stock valued at $46,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $76.15 on Friday. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $86.11. The stock has a fifty day moving average of $77.96 and a 200-day moving average of $73.94. The company has a market capitalization of $16.40 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.98 and a beta of 1.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. During the same quarter in the prior year, the firm earned $2.61 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.03 EPS for the current fiscal year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Wednesday, March 20th. This is an increase from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio is 66.08%.

Insider Buying and Selling at Best Buy

In other Best Buy news, CAO Mathew Watson sold 2,505 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $204,909.00. Following the sale, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at approximately $2,097,188.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Best Buy news, CAO Mathew Watson sold 2,505 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $204,909.00. Following the sale, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at approximately $2,097,188.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Todd G. Hartman sold 3,973 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $324,991.40. Following the sale, the insider now directly owns 25,912 shares in the company, valued at $2,119,601.60. The disclosure for this sale can be found here. Insiders have sold a total of 52,023 shares of company stock valued at $4,253,900 in the last three months. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on BBY. TheStreet upgraded Best Buy from a “c” rating to a “b-” rating in a report on Thursday, February 29th. Barclays increased their price objective on Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. UBS Group increased their price objective on Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upgraded Best Buy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $89.00 to $101.00 in a research note on Friday, March 22nd. Finally, Morgan Stanley raised their price target on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $84.60.

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.