LSV Asset Management Has $121.23 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

LSV Asset Management decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,412,901 shares of the technology retailer's stock after selling 48,800 shares during the quarter. LSV Asset Management owned 0.66% of Best Buy worth $121,227,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. MML Investors Services LLC raised its holdings in Best Buy by 8.8% in the third quarter. MML Investors Services LLC now owns 14,769 shares of the technology retailer's stock worth $1,526,000 after purchasing an additional 1,193 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Best Buy by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 99,209 shares of the technology retailer's stock valued at $10,248,000 after buying an additional 5,461 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Best Buy by 9.9% during the third quarter. Public Employees Retirement System of Ohio now owns 130,980 shares of the technology retailer's stock worth $13,530,000 after purchasing an additional 11,764 shares during the period. LRI Investments LLC lifted its holdings in Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer's stock valued at $40,000 after purchasing an additional 335 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Best Buy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer's stock valued at $499,954,000 after buying an additional 120,185 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BBY shares. Wells Fargo & Company dropped their price target on Best Buy from $89.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Citigroup reiterated a "neutral" rating and issued a $70.00 target price (down from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. KeyCorp restated a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 5th. Jefferies Financial Group cut their target price on shares of Best Buy from $106.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Finally, Morgan Stanley reduced their target price on Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $91.28.

Insider Transactions at Best Buy

In related news, CEO Corie S. Barry bought 13,500 shares of the firm's stock in a transaction that occurred 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 acquisition, the chief executive officer now directly owns 378,780 shares of the company's stock, valued at $27,620,637.60. The trade was a 3.70 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Matthew M. Bilunas sold 51,000 shares of Best Buy stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the transaction, the chief financial officer now directly owns 55,856 shares in the company, valued at approximately $4,144,515.20. This trade represents a 47.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,355 shares of company stock worth $5,767,213. 0.59% of the stock is currently owned by company insiders.

Best Buy Stock Performance

Shares of BBY traded down $0.74 during mid-day trading on Wednesday, hitting $60.40. 1,030,436 shares of the company's stock were exchanged, compared to its average volume of 3,248,756. 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 market capitalization of $12.77 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.10 and a beta of 1.42. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The business's 50 day moving average is $76.47 and its two-hundred day moving average is $84.90.

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

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were issued a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, March 25th. This is a positive change from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 6.29%. Best Buy's payout ratio is 88.99%.

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.