Nisa Investment Advisors LLC Raises Holdings in Best Buy Co., Inc. (NYSE:BBY)

Nisa Investment Advisors LLC raised its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,516 shares of the technology retailer's stock after acquiring an additional 3,132 shares during the period. Nisa Investment Advisors LLC's holdings in Best Buy were worth $4,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Best Buy by 4.1% in the 3rd 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Best Buy by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer's stock worth $499,954,000 after buying an additional 120,185 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Best Buy by 1.8% during the third quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer's stock worth $355,374,000 after buying an additional 62,452 shares during the period. Eagle Asset Management Inc. grew its holdings in shares of Best Buy by 3.3% during the third quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer's stock valued at $143,396,000 after buying an additional 44,693 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Best Buy by 55.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer's stock valued at $116,252,000 after acquiring an additional 491,781 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction 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 trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.59% of the company's stock.

Analyst Ratings Changes

BBY has been the subject of a number of research reports. Citigroup lowered their price target on Best Buy from $109.00 to $101.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Guggenheim dropped their target price on Best Buy from $110.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, November 29th. Telsey Advisory Group cut their price target on shares of Best Buy from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, November 26th. UBS Group decreased their price objective on shares of Best Buy from $123.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Finally, StockNews.com lowered shares of Best Buy from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $101.72.

Best Buy Price Performance

NYSE:BBY traded down $0.83 during trading hours on Friday, reaching $84.80. 2,082,452 shares of the company were exchanged, compared to its average volume of 1,978,591. 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 cap of $18.13 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The stock's 50-day moving average is $86.49 and its 200-day moving average is $90.14.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the company earned $1.29 EPS. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.43%. 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.