Greenwood Capital Associates LLC Has $1.45 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Greenwood Capital Associates LLC boosted its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 113.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,846 shares of the technology retailer's stock after acquiring an additional 8,941 shares during the quarter. Greenwood Capital Associates LLC's holdings in Best Buy were worth $1,445,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. E. Ohman J or Asset Management AB increased its stake in Best Buy by 26.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 9,442 shares of the technology retailer's stock worth $810,000 after buying an additional 2,000 shares during the period. Burford Brothers Inc. increased its position in shares of Best Buy by 18.5% during the fourth quarter. Burford Brothers Inc. now owns 5,943 shares of the technology retailer's stock worth $510,000 after acquiring an additional 926 shares during the last quarter. Greenleaf Trust increased its position in shares of Best Buy by 4.5% during the fourth quarter. Greenleaf Trust now owns 9,876 shares of the technology retailer's stock worth $847,000 after acquiring an additional 422 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in Best Buy by 71.9% in the fourth quarter. Richardson Financial Services Inc. now owns 550 shares of the technology retailer's stock valued at $47,000 after purchasing an additional 230 shares during the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. grew its stake in Best Buy by 4.2% during the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 47,344 shares of the technology retailer's stock valued at $4,062,000 after purchasing an additional 1,898 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BBY. Loop Capital reiterated a "buy" rating and set a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. StockNews.com lowered shares of Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Citigroup cut their target price on shares of Best Buy from $109.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. DA Davidson reissued a "buy" rating and issued a $117.00 price objective on shares of Best Buy in a report on Tuesday, October 15th. Finally, Barclays cut their price objective on Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $101.72.

Best Buy Stock Performance

BBY stock traded down $1.13 during trading on Friday, reaching $84.81. 2,406,766 shares of the company's stock were exchanged, compared to its average volume of 2,385,066. The firm has a market cap of $18.13 billion, a PE ratio of 14.50, a P/E/G ratio of 2.16 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The company's fifty day moving average price is $85.97 and its 200-day moving average price is $90.05.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results 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 company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy's dividend payout ratio (DPR) is presently 64.27%.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated 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 directly owns 92,070 shares of the company's stock, valued at $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.59% of the company's stock.

Best Buy Company 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.