Moody Aldrich Partners LLC Trims Stake in Best Buy Co., Inc. (NYSE:BBY)

Moody Aldrich Partners LLC trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 27.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,004 shares of the technology retailer's stock after selling 5,657 shares during the period. Moody Aldrich Partners LLC's holdings in Best Buy were worth $1,287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Best Buy by 563.8% during the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer's stock valued at $50,643,000 after buying an additional 503,204 shares during the last quarter. National Bank of Canada FI grew its position in Best Buy by 817.4% in the 3rd quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer's stock valued at $55,564,000 after acquiring an additional 479,256 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Best Buy in the second quarter worth $25,287,000. Charles Schwab Investment Management Inc. increased its stake in Best Buy by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer's stock worth $636,840,000 after purchasing an additional 241,988 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Best Buy by 36.5% during the third quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer's stock worth $73,016,000 after purchasing an additional 201,562 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BBY has been the topic of a number of research analyst reports. Telsey Advisory Group reduced their price target on shares of Best Buy from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their target price on shares of 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. DA Davidson reaffirmed a "buy" rating and set a $117.00 price target on shares of Best Buy in a research note on Tuesday, October 15th. Barclays dropped 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. Finally, StockNews.com lowered Best Buy from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy has a consensus rating of "Moderate Buy" and an average target price of $101.72.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.59% of the stock is owned by insiders.

Best Buy Stock Down 1.3 %

Shares of BBY traded down $1.13 during midday trading on Friday, hitting $85.73. 2,863,903 shares of the company's stock traded hands, compared to its average volume of 2,122,368. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The firm's fifty day moving average is $86.30 and its 200-day moving average is $90.14. 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 stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 2.14 and a beta of 1.43.

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 for the quarter, missing analysts' consensus estimates of $1.30 by ($0.04). The business had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy's revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy's dividend payout ratio (DPR) is presently 64.27%.

About Best Buy

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.