Best Buy Co., Inc. (NYSE:BBY) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC trimmed its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 31.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,121 shares of the technology retailer's stock after selling 102,023 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.10% of Best Buy worth $18,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. raised its holdings in shares of Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock worth $29,000 after buying an additional 311 shares during the period. Golden State Wealth Management LLC purchased a new stake in Best Buy in the fourth quarter worth $32,000. OFI Invest Asset Management bought a new stake in shares of Best Buy during the fourth quarter worth $34,000. Trust Co. of Vermont boosted its stake in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock valued at $36,000 after purchasing an additional 384 shares during the period. Finally, LRI Investments LLC increased its stake in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer's stock worth $40,000 after buying an additional 335 shares during the period. Hedge funds and other institutional investors own 80.96% of the company's stock.

Analysts Set New Price Targets

BBY has been the subject of several research reports. KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. DA Davidson lowered their price target on Best Buy from $117.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group reduced their price objective on Best Buy from $106.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Telsey Advisory Group decreased their target price 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, Barclays dropped their price target on Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Best Buy presently has a consensus rating of "Hold" and a consensus target price of $93.50.

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Insiders Place Their Bets

In other news, 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 price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the transaction, the chief executive officer now directly owns 378,780 shares in the company, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew M. Bilunas sold 51,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the transaction, the chief financial officer now directly owns 55,856 shares of the company's stock, valued at $4,144,515.20. This represents a 47.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,355 shares of company stock valued at $5,767,213. 0.59% of the stock is owned by company insiders.

Best Buy Stock Up 1.0 %

Best Buy stock traded up $0.75 during midday trading on Tuesday, reaching $74.36. The company's stock had a trading volume of 2,346,416 shares, compared to its average volume of 3,054,623. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The stock has a market capitalization of $15.72 billion, a P/E ratio of 12.71, a PEG ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock's 50-day simple moving average is $82.14 and its 200-day simple moving average is $87.84.

Best Buy (NYSE:BBY - Get Free Report) last released its 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 company had revenue of $13.95 billion during the quarter, compared to analysts' expectations of $13.69 billion. During the same period last year, the business earned $2.72 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be paid a $0.95 dividend. This is a positive change from Best Buy's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.11%. Best Buy's dividend payout ratio (DPR) is 88.99%.

Best Buy 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.