Deseret Mutual Benefit Administrators Has $352,000 Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Deseret Mutual Benefit Administrators cut its position in Best Buy Co., Inc. (NYSE:BBY) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,100 shares of the technology retailer’s stock after selling 384 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Best Buy were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Greenleaf Trust grew its position in Best Buy by 1.2% during the 3rd quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock worth $977,000 after acquiring an additional 108 shares during the last quarter. Yousif Capital Management LLC boosted its stake in Best Buy by 0.5% in the fourth 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 grew its holdings in shares of Best Buy by 12.2% during the third 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 during the last quarter. Claro Advisors LLC increased its stake in shares of Best Buy by 5.7% in the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after buying an additional 154 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Best Buy by 14.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,243 shares of the technology retailer’s stock valued at $107,000 after buying an additional 155 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. UBS Group decreased their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company lowered their price target on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Wednesday, November 27th. Citigroup dropped their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Guggenheim decreased their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have assigned 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, Best Buy currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Stock Down 1.3 %

Best Buy stock opened at $89.80 on Friday. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.13 and a beta of 1.43. The company’s 50 day simple moving average is $86.05 and its 200 day simple moving average is $90.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same period in the prior year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.19%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the 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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.