Guggenheim Capital LLC Decreases Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Guggenheim Capital LLC cut its stake in Best Buy Co., Inc. (NYSE:BBY) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,113 shares of the technology retailer’s stock after selling 470 shares during the period. Guggenheim Capital LLC’s holdings in Best Buy were worth $7,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in BBY. Mariner LLC increased its stake in shares of Best Buy by 0.3% in the 4th quarter. Mariner LLC now owns 43,215 shares of the technology retailer’s stock worth $3,708,000 after acquiring an additional 129 shares during the last quarter. SageView Advisory Group LLC increased its position in Best Buy by 8.9% during the fourth quarter. SageView Advisory Group LLC now owns 2,589 shares of the technology retailer’s stock worth $222,000 after purchasing an additional 211 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Best Buy by 168.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 32,161 shares of the technology retailer’s stock worth $2,759,000 after purchasing an additional 20,187 shares during the period. Sagespring Wealth Partners LLC acquired a new position in Best Buy in the 4th quarter valued at about $1,008,000. Finally, Crux Wealth Advisors purchased a new stake in shares of Best Buy in the 4th quarter valued at approximately $534,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In related news, CEO Corie S. Barry acquired 13,500 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at $27,620,637.60. This trade represents a 3.70 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd G. Hartman sold 4,893 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the sale, the insider now owns 32,320 shares of the company’s stock, valued at $2,348,048. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,355 shares of company stock valued at $5,767,213. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY opened at $61.97 on Friday. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.71. The stock has a market capitalization of $13.10 billion, a PE ratio of 10.59, a PEG ratio of 2.10 and a beta of 1.42. 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 stock has a 50-day simple moving average of $75.45 and a 200-day simple moving average of $84.44.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period in the prior year, the firm posted $2.72 EPS. On average, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 6.13%. This is an increase from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, March 25th. Best Buy’s payout ratio is 88.99%.

Analyst Upgrades and Downgrades

BBY has been the topic of several analyst reports. Loop Capital reaffirmed a “negative” rating on shares of Best Buy in a research report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. DA Davidson reissued a “buy” rating and set a $110.00 price objective on shares of Best Buy in a research report on Monday. Guggenheim decreased their target price on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, Wedbush reissued a “neutral” rating and issued a $90.00 price target on shares of Best Buy in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Best Buy currently 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.