Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,723 shares of the technology retailer’s stock after selling 1,035 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Best Buy were worth $491,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new stake in Best Buy in the third quarter worth $40,000. LRI Investments LLC grew its position 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 acquiring an additional 335 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of 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 period. Brooklyn Investment Group bought a new stake in Best Buy in the 3rd quarter valued at about $44,000. Finally, Abich Financial Wealth Management LLC boosted its stake in Best Buy by 959.6% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer’s stock valued at $57,000 after purchasing an additional 499 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.59% of the company’s stock.

Best Buy Stock Up 2.1 %

BBY opened at $86.87 on Friday. The firm has a market cap of $18.57 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43. 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 business has a 50 day moving average price of $86.38 and a 200 day moving average price of $90.16. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71.

Best Buy (NYSE:BBY) last posted 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 the consensus estimate of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. Research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BBY shares. UBS Group dropped their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Guggenheim decreased their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Telsey Advisory Group lowered their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Finally, Barclays reduced 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 report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

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.