Csenge Advisory Group Sells 2,107 Shares of Best Buy Co Inc (BBY)

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Csenge Advisory Group lowered its holdings in Best Buy Co Inc (NYSE:BBY) by 30.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,927 shares of the technology retailer’s stock after selling 2,107 shares during the quarter. Csenge Advisory Group’s holdings in Best Buy were worth $327,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new stake in shares of Best Buy in the 2nd quarter valued at about $174,000. People s United Financial Inc. bought a new stake in shares of Best Buy in the 3rd quarter valued at about $222,000. Hilltop Holdings Inc. bought a new stake in shares of Best Buy in the 3rd quarter valued at about $225,000. Checchi Capital Advisers LLC bought a new stake in shares of Best Buy in the 3rd quarter valued at about $234,000. Finally, Chemical Bank bought a new stake in shares of Best Buy in the 3rd quarter valued at about $265,000. Institutional investors and hedge funds own 84.54% of the company’s stock.

Several equities research analysts have recently commented on BBY shares. Zacks Investment Research lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group started coverage on shares of Best Buy in a report on Tuesday, August 21st. They issued a “hold” rating and a $79.00 price target for the company. Wells Fargo & Co restated a “hold” rating and issued a $78.00 price target on shares of Best Buy in a report on Tuesday, August 28th. Morgan Stanley boosted their price target on shares of Best Buy from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, August 29th. Finally, Barclays restated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $75.81.

In other Best Buy news, CFO Corie S. Barry sold 2,982 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $78.35, for a total transaction of $233,639.70. Following the sale, the chief financial officer now owns 72,838 shares of the company’s stock, valued at approximately $5,706,857.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Corie S. Barry sold 6,783 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The stock was sold at an average price of $72.80, for a total transaction of $493,802.40. Following the sale, the chief financial officer now directly owns 80,961 shares in the company, valued at approximately $5,893,960.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,798 shares of company stock worth $730,043. 0.75% of the stock is owned by insiders.

Shares of Best Buy stock opened at $51.97 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.28 and a debt-to-equity ratio of 0.42. Best Buy Co Inc has a 52-week low of $51.56 and a 52-week high of $84.37. The company has a market capitalization of $14.06 billion, a PE ratio of 11.76, a PEG ratio of 0.87 and a beta of 1.02.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. Best Buy had a net margin of 2.52% and a return on equity of 44.41%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.56 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Best Buy Co Inc will post 5.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Tuesday, December 11th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Monday, December 10th. Best Buy’s payout ratio is currently 40.72%.

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About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co Inc (NYSE:BBY).

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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