Savant Capital LLC Sells 211 Shares of Best Buy Co., Inc. (NYSE:BBY)

Savant Capital LLC reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,464 shares of the technology retailer’s stock after selling 211 shares during the quarter. Savant Capital LLC’s holdings in Best Buy were worth $584,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Commonwealth Equity Services LLC grew its holdings in shares of Best Buy by 4.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 109,913 shares of the technology retailer’s stock valued at $7,636,000 after purchasing an additional 5,101 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Best Buy by 14.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 22,385 shares of the technology retailer’s stock worth $1,555,000 after buying an additional 2,902 shares during the last quarter. Xponance Inc. grew its stake in shares of Best Buy by 2.7% during the third quarter. Xponance Inc. now owns 30,879 shares of the technology retailer’s stock worth $2,145,000 after buying an additional 802 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Best Buy by 0.4% during the third quarter. Brown Advisory Inc. now owns 282,064 shares of the technology retailer’s stock worth $19,595,000 after buying an additional 1,141 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in shares of Best Buy by 3.3% in the 3rd quarter. New York State Teachers Retirement System now owns 216,081 shares of the technology retailer’s stock valued at $15,011,000 after acquiring an additional 6,987 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. raised Best Buy from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $89.00 to $101.00 in a report on Friday, March 22nd. Barclays upped their price objective on Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Jefferies Financial Group cut their target price on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. UBS Group boosted their target price on shares of Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, Citigroup raised their price target on shares of Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Best Buy has an average rating of “Hold” and an average target price of $84.60.

Insider Transactions at Best Buy

In related news, insider Todd G. Hartman sold 3,973 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Matthew M. Bilunas sold 8,258 shares of Best Buy stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $675,504.40. Following the completion of the transaction, the chief financial officer now directly owns 90,694 shares in the company, valued at $7,418,769.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd G. Hartman sold 3,973 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the sale, the insider now owns 25,912 shares in the company, valued at approximately $2,119,601.60. The disclosure for this sale can be found here. Insiders have sold 52,023 shares of company stock valued at $4,253,900 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Best Buy Trading Up 2.8 %

NYSE BBY opened at $74.47 on Friday. The stock has a market capitalization of $16.11 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.89 and a beta of 1.50. The business has a 50 day simple moving average of $77.92 and a 200 day simple moving average of $74.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $86.11.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. The firm had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $14.58 billion. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.61 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 annualized dividend and a dividend yield of 5.05%. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio is currently 66.08%.

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.