Vaughan Nelson Investment Management L.P. Sells 139,120 Shares of Best Buy Co., Inc. (NYSE:BBY)

Vaughan Nelson Investment Management L.P. cut its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 37.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 230,365 shares of the technology retailer's stock after selling 139,120 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.11% of Best Buy worth $19,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BBY. Greenleaf Trust increased its holdings in Best Buy by 1.2% in the 3rd quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer's stock valued at $977,000 after buying an additional 108 shares during the period. SeaCrest Wealth Management LLC raised its position in shares of Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer's stock valued at $276,000 after acquiring an additional 118 shares during the period. Yousif Capital Management LLC increased its stake in Best Buy by 0.5% during the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer's stock worth $2,566,000 after purchasing an additional 145 shares in the last quarter. Access Investment Management LLC increased its stake in Best Buy by 12.2% during the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer's stock worth $143,000 after purchasing an additional 150 shares in the last quarter. Finally, Claro Advisors LLC grew its stake in shares of Best Buy by 5.7% during the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer's stock worth $246,000 after acquiring an additional 154 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Up 2.8 %

Shares of Best Buy stock traded up $2.45 during trading hours on Thursday, reaching $89.24. 1,699,720 shares of the company were exchanged, compared to its average volume of 2,384,921. The firm has a market cap of $19.08 billion, a PE ratio of 15.25, a PEG ratio of 2.01 and a beta of 1.43. The stock's fifty day moving average is $85.71 and its 200 day moving average is $90.04. 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 Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm 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%. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.21%. Best Buy's dividend payout ratio (DPR) is 64.27%.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the 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 completion of the transaction, the chief financial officer now directly owns 92,070 shares of the company's stock, 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 is accessible through the SEC website. Insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

BBY has been the subject of several research reports. Guggenheim cut their price target on Best Buy from $110.00 to $105.00 and set a "buy" rating for the company in a report on Friday, November 29th. Morgan Stanley decreased their target price on Best Buy from $105.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. Loop Capital restated a "buy" rating and set a $100.00 price target on shares of Best Buy in a report on Wednesday, December 18th. Telsey Advisory Group cut their price objective on Best Buy from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 26th. Finally, StockNews.com lowered 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 issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Best Buy currently has a consensus rating of "Moderate Buy" and an average target price of $101.72.

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.