Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Swedbank AB

Swedbank AB decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 493,763 shares of the technology retailer's stock after selling 11,282 shares during the quarter. Swedbank AB owned about 0.23% of Best Buy worth $42,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BBY. Sei Investments Co. raised its position in Best Buy by 2.2% during the second quarter. Sei Investments Co. now owns 37,917 shares of the technology retailer's stock valued at $3,196,000 after purchasing an additional 818 shares during the period. Public Sector Pension Investment Board boosted its stake in Best Buy by 67.3% during the second quarter. Public Sector Pension Investment Board now owns 7,120 shares of the technology retailer's stock worth $600,000 after buying an additional 2,865 shares during the period. The Manufacturers Life Insurance Company increased its position in Best Buy by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 145,555 shares of the technology retailer's stock valued at $12,269,000 after acquiring an additional 5,197 shares during the last quarter. Creative Planning raised its stake in shares of Best Buy by 5.8% in the second quarter. Creative Planning now owns 67,938 shares of the technology retailer's stock valued at $5,727,000 after acquiring an additional 3,718 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Best Buy by 11.9% in the 2nd quarter. NewEdge Advisors LLC now owns 38,911 shares of the technology retailer's stock worth $3,280,000 after acquiring an additional 4,142 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Price Performance

BBY stock traded up $2.09 during mid-day trading on Thursday, reaching $87.18. The company's stock had a trading volume of 910,933 shares, compared to its average volume of 2,279,807. The stock has a market cap of $18.64 billion, a PE ratio of 14.90, a P/E/G ratio of 2.11 and a beta of 1.43. The company's 50 day moving average is $86.38 and its two-hundred day moving average is $90.16. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. 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 (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS 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 analysts' expectations of $9.63 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The firm's revenue was down 3.2% on a year-over-year basis. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Tuesday, December 17th. Best Buy's payout ratio is presently 64.27%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BBY. Wells Fargo & Company decreased their price objective on shares of Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Wednesday, November 27th. DA Davidson reaffirmed a "buy" rating and issued a $117.00 price objective on shares of Best Buy in a research report on Tuesday, October 15th. Guggenheim decreased their target price on Best Buy from $110.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Citigroup cut their price target on shares of Best Buy from $109.00 to $101.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Best Buy from $111.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.72.

Insider Activity 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 value of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares of the company's stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.59% of the stock is currently owned by insiders.

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.