Legal & General Group Plc Has $144.44 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Legal & General Group Plc reduced its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 16.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,683,471 shares of the technology retailer's stock after selling 329,011 shares during the period. Legal & General Group Plc owned 0.79% of Best Buy worth $144,442,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BBY. IFP Advisors Inc grew its position in Best Buy by 5.2% in the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer's stock valued at $218,000 after buying an additional 125 shares during the last quarter. Rothschild Investment LLC raised its holdings in Best Buy by 19.7% during the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer's stock worth $74,000 after purchasing an additional 142 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Best Buy by 5.0% in the 4th quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer's stock valued at $258,000 after purchasing an additional 142 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Best Buy by 0.5% during the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer's stock worth $2,566,000 after buying an additional 145 shares in the last quarter. Finally, Claro Advisors LLC lifted its holdings 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 valued at $246,000 after buying an additional 154 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Down 0.7 %

BBY stock traded down $0.46 during midday trading on Wednesday, hitting $60.68. 758,624 shares of the company's stock were exchanged, compared to its average volume of 3,681,782. 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 firm has a 50 day moving average price of $76.47 and a 200-day moving average price of $84.90. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. The firm had revenue of $13.95 billion during the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the previous year, the company earned $2.72 earnings per share. On average, analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were paid a dividend of $0.95 per share. This is an increase from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend was Tuesday, March 25th. Best Buy's dividend payout ratio is presently 88.99%.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 3,182 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.29, for a total transaction of $226,844.78. Following the transaction, the chief accounting officer now owns 19,218 shares of the company's stock, valued at approximately $1,370,051.22. This trade represents a 14.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Corie S. Barry bought 13,500 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the acquisition, the chief executive officer now owns 378,780 shares of the company's stock, valued at $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 78,355 shares of company stock valued at $5,767,213 over the last three months. Company insiders own 0.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BBY. Barclays reduced their target price on Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a report on Thursday, January 9th. Wells Fargo & Company reduced their price target on shares of Best Buy from $89.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. KeyCorp reaffirmed a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 5th. Telsey Advisory Group dropped their price target on Best Buy from $110.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley cut their target price on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Best Buy presently has an average rating of "Hold" and an average target price of $91.28.

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.