Asset Management One Co. Ltd. Sells 11,786 Shares of Best Buy Co., Inc. (NYSE:BBY)

Asset Management One Co. Ltd. lowered its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,555 shares of the technology retailer's stock after selling 11,786 shares during the period. Asset Management One Co. Ltd.'s holdings in Best Buy were worth $6,915,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in shares of Best Buy during the 3rd quarter worth approximately $248,000. Bleakley Financial Group LLC lifted its holdings in shares of Best Buy by 6.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,028 shares of the technology retailer's stock worth $623,000 after acquiring an additional 384 shares during the period. Blue Trust Inc. lifted its holdings in shares of Best Buy by 21.8% during the 3rd quarter. Blue Trust Inc. now owns 5,452 shares of the technology retailer's stock worth $563,000 after acquiring an additional 974 shares during the period. Resonant Capital Advisors LLC bought a new stake in shares of Best Buy during the 3rd quarter worth approximately $204,000. Finally, Everence Capital Management Inc. lifted its stake in Best Buy by 119.0% in the 3rd quarter. Everence Capital Management Inc. now owns 9,790 shares of the technology retailer's stock valued at $1,011,000 after purchasing an additional 5,320 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on BBY shares. Truist Financial decreased their price target on shares of Best Buy from $107.00 to $95.00 and set a "hold" rating for the company in a research report on Wednesday, November 27th. Barclays decreased 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 report on Thursday, January 9th. Guggenheim decreased their price objective on shares of Best Buy from $110.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 29th. UBS Group decreased their price objective 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. Finally, Loop Capital reissued a "buy" rating and set a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $101.72.

Best Buy Stock Performance

Shares of BBY traded down $1.20 during trading hours on Friday, hitting $89.74. The company's stock had a trading volume of 388,268 shares, compared to its average volume of 2,392,120. The company has a market cap of $19.19 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.13 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The business has a 50 day simple moving average of $86.05 and a two-hundred day simple moving average of $90.24. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. Best Buy's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.19%. Best Buy's dividend payout ratio is currently 64.27%.

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.