OMERS ADMINISTRATION Corp Sells 5,527 Shares of Best Buy Co., Inc. (NYSE:BBY)

OMERS ADMINISTRATION Corp cut its position in Best Buy Co., Inc. (NYSE:BBY) by 22.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,852 shares of the technology retailer’s stock after selling 5,527 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Best Buy were worth $1,618,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BBY. Harbor Capital Advisors Inc. raised its position in Best Buy by 79.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 691 shares of the technology retailer’s stock valued at $59,000 after purchasing an additional 306 shares during the last quarter. Czech National Bank raised its position in shares of Best Buy by 5.9% during the fourth quarter. Czech National Bank now owns 42,367 shares of the technology retailer’s stock worth $3,635,000 after acquiring an additional 2,379 shares during the last quarter. Brookstone Capital Management raised its position in shares of Best Buy by 3.5% during the fourth quarter. Brookstone Capital Management now owns 10,268 shares of the technology retailer’s stock worth $881,000 after acquiring an additional 351 shares during the last quarter. Claro Advisors LLC raised its position in shares of Best Buy by 5.7% during the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock worth $246,000 after acquiring an additional 154 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in Best Buy by 70.1% in the fourth quarter. AdvisorNet Financial Inc now owns 951 shares of the technology retailer’s stock worth $82,000 after purchasing an additional 392 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Down 0.7%

BBY stock opened at $72.91 on Friday. The stock’s fifty day simple moving average is $67.92 and its two-hundred day simple moving average is $80.46. 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 1-year low of $54.99 and a 1-year high of $103.71. The stock has a market cap of $15.43 billion, a P/E ratio of 12.46, a P/E/G ratio of 2.10 and a beta of 1.27.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. Analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were paid a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, March 25th. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.21%. Best Buy’s payout ratio is presently 88.99%.

Insider Buying and Selling at Best Buy

In other Best Buy news, EVP Kathleen Scarlett sold 6,847 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $497,434.55. Following the sale, the executive vice president now directly owns 87,389 shares in the company, valued at $6,348,810.85. The trade was a 7.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Corie S. Barry bought 13,500 shares of the stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the purchase, the chief executive officer now owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This trade represents a 3.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 78,355 shares of company stock worth $5,767,213 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research reports. Citigroup reissued a “neutral” rating and issued a $70.00 price objective (down previously from $93.00) on shares of Best Buy in a research note on Thursday, April 3rd. Jefferies Financial Group reduced their price objective on Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Loop Capital reissued a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. Wedbush reissued a “neutral” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Monday, March 3rd. Finally, DA Davidson reaffirmed a “buy” rating and set a $110.00 target price on shares of Best Buy in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $91.28.

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.