Schroder Investment Management Group Trims Stake in Best Buy Co., Inc. (NYSE:BBY)

Schroder Investment Management Group lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 89.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,588 shares of the technology retailer's stock after selling 509,495 shares during the quarter. Schroder Investment Management Group's holdings in Best Buy were worth $5,373,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. boosted its position in Best Buy by 971.9% during the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after acquiring an additional 311 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Best Buy during the fourth quarter valued at about $32,000. LRI Investments LLC raised its holdings in shares of 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 purchasing an additional 335 shares during the period. OFI Invest Asset Management acquired a new position in shares of Best Buy during the fourth quarter valued at about $34,000. Finally, Trust Co. of Vermont raised its holdings 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. Institutional investors own 80.96% of the company's stock.

Insider Buying and Selling

In other news, CAO Mathew Watson sold 3,182 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.29, for a total transaction of $226,844.78. Following the completion of the transaction, the chief accounting officer now directly owns 19,218 shares of the company's stock, valued at approximately $1,370,051.22. This represents a 14.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew M. Bilunas sold 51,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were 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 approximately $4,144,515.20. This trade represents a 47.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,355 shares of company stock worth $5,767,213 in the last 90 days. 0.59% of the stock is owned by company insiders.

Best Buy Trading Down 6.0 %

NYSE:BBY traded down $3.83 during trading hours on Thursday, reaching $59.82. The company's stock had a trading volume of 889,024 shares, compared to its average volume of 3,196,556. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.10 and a beta of 1.42. The firm has a 50-day simple moving average of $78.43 and a 200-day simple moving average of $85.98. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY - Get Free Report) last issued 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. The company had revenue of $13.95 billion for the quarter, compared to analysts' expectations of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter last year, the company earned $2.72 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend is Tuesday, March 25th. This is a boost from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio (DPR) is presently 88.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price objective on shares of Best Buy from $115.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. UBS Group set a $105.00 target price on shares of Best Buy in a report on Wednesday, March 5th. Finally, Loop Capital restated a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $91.28.

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.