Shariaportfolio Inc. Has $715,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Shariaportfolio Inc. cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,329 shares of the technology retailer’s stock after selling 435 shares during the period. Best Buy comprises approximately 0.3% of Shariaportfolio Inc.’s portfolio, making the stock its 23rd largest position. Shariaportfolio Inc.’s holdings in Best Buy were worth $715,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Yousif Capital Management LLC lifted its position in shares of Best Buy by 0.5% in the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after purchasing an additional 145 shares during the period. Access Investment Management LLC lifted its position in shares of Best Buy by 12.2% in the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after purchasing an additional 150 shares during the period. Claro Advisors LLC lifted its position in shares of Best Buy by 5.7% in the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock worth $246,000 after purchasing an additional 154 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of Best Buy by 14.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,243 shares of the technology retailer’s stock worth $107,000 after purchasing an additional 155 shares during the period. Finally, Empirical Finance LLC lifted its position in shares of Best Buy by 1.2% in the 3rd quarter. Empirical Finance LLC now owns 15,012 shares of the technology retailer’s stock worth $1,551,000 after purchasing an additional 173 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays dropped their price target on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Finally, Wells Fargo & Company lowered their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Stock Performance

BBY opened at $89.80 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average price is $86.10 and its two-hundred day moving average price is $90.43. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.13 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share 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 business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same quarter in the previous year, the company posted $1.29 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders 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 4.19%. Best Buy’s dividend payout ratio is currently 64.27%.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

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.