Mirae Asset Global Investments Co. Ltd. Has $16.46 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Mirae Asset Global Investments Co. Ltd. increased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,582 shares of the technology retailer's stock after buying an additional 33,018 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Best Buy worth $16,456,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Trust Co. of Vermont boosted its stake in shares of Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock worth $36,000 after acquiring an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Best Buy in the 3rd quarter worth about $40,000. LRI Investments LLC lifted its stake in Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer's stock valued at $40,000 after buying an additional 335 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Best Buy during the third quarter valued at approximately $44,000. Finally, Richardson Financial Services Inc. boosted its stake in Best Buy by 71.9% in the 4th quarter. Richardson Financial Services Inc. now owns 550 shares of the technology retailer's stock worth $47,000 after purchasing an additional 230 shares during the period. Institutional investors own 80.96% of the company's stock.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now directly owns 92,070 shares of the company's stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.59% of the company's stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of research analyst reports. Telsey Advisory Group lowered their price target on Best Buy from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, November 26th. Morgan Stanley lowered their price objective on shares of Best Buy from $105.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Best Buy from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Citigroup dropped their price target 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. Finally, Wells Fargo & Company lowered their target price on Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Best Buy presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.72.

Best Buy Stock Performance

BBY traded down $1.13 during midday trading on Friday, reaching $84.81. The company's stock had a trading volume of 2,805,207 shares, compared to its average volume of 2,279,853. The company has a fifty day simple moving average of $85.86 and a 200 day simple moving average of $90.03. The stock has a market cap of $18.13 billion, a P/E ratio of 14.50, a PEG ratio of 2.01 and a beta of 1.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (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 the consensus estimate of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company's revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a 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%.

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.