Natixis Advisors LLC Reduces Stake in Best Buy Co., Inc. (NYSE:BBY)

Natixis Advisors LLC lowered its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,211 shares of the technology retailer's stock after selling 4,956 shares during the period. Natixis Advisors LLC owned approximately 0.05% of Best Buy worth $9,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Financial Partners Inc acquired a new stake in Best Buy in the fourth quarter valued at approximately $3,293,000. Klein Pavlis & Peasley Financial Inc. raised its stake in Best Buy by 48.6% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer's stock valued at $2,265,000 after buying an additional 8,640 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in Best Buy by 424.0% in the fourth quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer's stock worth $2,248,000 after acquiring an additional 21,200 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Best Buy during the fourth quarter worth about $453,000. Finally, TCW Group Inc. increased its holdings in shares of Best Buy by 26.7% during the fourth quarter. TCW Group Inc. now owns 401,098 shares of the technology retailer's stock valued at $34,414,000 after acquiring an additional 84,505 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

Shares of BBY stock traded down $0.09 during mid-day trading on Tuesday, hitting $74.63. 2,310,768 shares of the stock were exchanged, compared to its average volume of 2,969,008. 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 52-week low of $69.29 and a 52-week high of $103.71. The firm has a fifty day moving average of $83.17 and a 200 day moving average of $88.84. The company has a market cap of $15.77 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

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Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.69 billion. During the same period in the previous year, the business earned $2.72 earnings per share. Research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.09%. This is a boost from Best Buy's previous quarterly dividend of $0.94. Best Buy's payout ratio is currently 88.99%.

Insider Buying and Selling

In related news, CAO Mathew Watson sold 3,182 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the transaction, the chief accounting officer now directly owns 19,218 shares of the company's stock, valued at approximately $1,370,051.22. This represents a 14.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Corie S. Barry bought 13,500 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the purchase, the chief executive officer now owns 378,780 shares in the company, valued at $27,620,637.60. The trade was a 3.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BBY shares. Telsey Advisory Group lowered their target price on shares of Best Buy from $110.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. DA Davidson lowered their price objective on shares of Best Buy from $117.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Bank of America cut their target price on Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. Evercore ISI reduced their target price on Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a research note on Wednesday, March 5th. Finally, Citigroup decreased their target price on Best Buy from $105.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $93.50.

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.