Zeke Capital Advisors LLC trimmed its position in shares of Best Buy Co Inc (NYSE:BBY) by 22.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,186 shares of the technology retailer’s stock after selling 921 shares during the period. Zeke Capital Advisors LLC’s holdings in Best Buy were worth $218,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of Best Buy by 144.3% during the 3rd quarter. Sei Investments Co. now owns 84,969 shares of the technology retailer’s stock worth $4,850,000 after purchasing an additional 50,184 shares during the period. New York State Common Retirement Fund grew its position in shares of Best Buy by 3.5% in the 3rd quarter. New York State Common Retirement Fund now owns 709,696 shares of the technology retailer’s stock worth $40,424,000 after buying an additional 23,726 shares during the last quarter. Comerica Bank grew its position in shares of Best Buy by 2.0% in the 3rd quarter. Comerica Bank now owns 68,002 shares of the technology retailer’s stock worth $3,766,000 after buying an additional 1,359 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Best Buy by 35.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 187,324 shares of the technology retailer’s stock worth $10,669,000 after buying an additional 49,099 shares during the last quarter. Finally, Commerce Bank purchased a new position in shares of Best Buy in the 3rd quarter worth approximately $234,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.
Best Buy stock traded down $0.39 during trading hours on Thursday, reaching $68.05. 306,909 shares of the company’s stock were exchanged, compared to its average volume of 3,767,980. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. The firm has a market capitalization of $20,474.55, a PE ratio of 20.87, a PEG ratio of 0.97 and a beta of 1.09. Best Buy Co Inc has a 52 week low of $44.54 and a 52 week high of $78.59.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 22nd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.65%. This is a boost from Best Buy’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Wednesday, March 21st. Best Buy’s dividend payout ratio is 41.46%.
In related news, SVP Mathew Watson sold 1,326 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $69.43, for a total value of $92,064.18. Following the completion of the sale, the senior vice president now owns 20,953 shares of the company’s stock, valued at $1,454,766.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerard R. Vittecoq sold 23,684 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $74.12, for a total transaction of $1,755,458.08. Following the completion of the sale, the director now directly owns 40,128 shares of the company’s stock, valued at approximately $2,974,287.36. The disclosure for this sale can be found here. Insiders sold 356,785 shares of company stock valued at $24,999,914 over the last quarter. Company insiders own 0.84% of the company’s stock.
A number of brokerages have recently issued reports on BBY. Loop Capital set a $83.00 price objective on shares of Best Buy and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Zacks Investment Research downgraded shares of Best Buy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Wedbush reissued an “underperform” rating and set a $48.00 target price (up previously from $45.00) on shares of Best Buy in a research report on Monday, March 5th. Credit Suisse Group reissued a “hold” rating and set a $74.00 target price (up previously from $60.00) on shares of Best Buy in a research report on Monday, March 5th. Finally, Bank of America boosted their target price on shares of Best Buy from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, March 2nd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $69.42.
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Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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