1834 Investment Advisors Co. Decreases Position in Best Buy Co., Inc. (NYSE:BBY)

1834 Investment Advisors Co. cut its holdings in Best Buy Co., Inc. (NYSE:BBY) by 20.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,745 shares of the technology retailer’s stock after selling 9,059 shares during the period. 1834 Investment Advisors Co.’s holdings in Best Buy were worth $2,981,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont grew its holdings in Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Best Buy during the third quarter valued at about $40,000. LRI Investments LLC boosted 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 worth $40,000 after purchasing an additional 335 shares during the period. Brooklyn Investment Group bought a new stake in shares of Best Buy in the third quarter worth about $44,000. Finally, Hershey Financial Advisers LLC purchased a new position in Best Buy during the 2nd quarter valued at about $48,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of NYSE BBY opened at $84.80 on Friday. Best Buy Co., Inc. has a 1 year low of $69.29 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. The company’s fifty day moving average price is $86.49 and its 200 day moving average price is $90.14. The company has a market capitalization 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 (NYSE:BBY) last announced its 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 business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.43%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Analyst Ratings Changes

BBY has been the topic of several research analyst reports. Wells Fargo & Company reduced their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 27th. Guggenheim reduced their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Barclays dropped their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Loop Capital reiterated a “buy” rating and set a $100.00 price target on shares of Best Buy in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.59% of the company’s stock.

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.