Ritholtz Wealth Management trimmed its position in Best Buy Co., Inc. (NYSE:BBY – Free Report) by 1.9% in the 4th quarter, HoldingsChannel reports. The fund owned 15,772 shares of the technology retailer’s stock after selling 298 shares during the quarter. Ritholtz Wealth Management’s holdings in Best Buy were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its stake in Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after purchasing an additional 3,025 shares during the period. Asset Management One Co. Ltd. boosted its stake in Best Buy by 27.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after purchasing an additional 19,405 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Best Buy by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after purchasing an additional 18,171 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Best Buy in the 3rd quarter worth approximately $2,384,000. Finally, Toronto Dominion Bank boosted its stake in Best Buy by 82.2% in the 3rd quarter. Toronto Dominion Bank now owns 102,292 shares of the technology retailer’s stock worth $10,567,000 after purchasing an additional 46,152 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
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 sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.59% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on BBY
Best Buy Stock Performance
Shares of Best Buy stock opened at $81.91 on Friday. The firm has a market cap of $17.51 billion, a P/E ratio of 14.00, a P/E/G ratio of 2.09 and a beta of 1.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The stock’s fifty day moving average price is $87.17 and its 200-day moving average price is $90.10.
Best Buy (NYSE:BBY – Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 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 analysts’ expectations of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.
Best Buy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.59%. Best Buy’s dividend payout ratio is currently 64.27%.
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.
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