Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 558,263 shares of the technology retailer's stock after selling 24,596 shares during the period. Nuveen Asset Management LLC owned 0.26% of Best Buy worth $47,899,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BBY. Rakuten Securities Inc. increased its position in shares of Best Buy by 971.9% in the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after acquiring an additional 311 shares during the period. Golden State Wealth Management LLC purchased a new stake in Best Buy in the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. boosted its holdings in Best Buy by 186.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 243 shares during the last quarter. Ancora Advisors LLC boosted its holdings in Best Buy by 18,700.0% in the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 374 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Best Buy in the fourth quarter valued at $34,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BBY has been the topic of several recent research reports. Bank of America lowered their price target on shares of Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a report on Wednesday, March 5th. UBS Group set a $105.00 price target on shares of Best Buy in a report on Wednesday, March 5th. Telsey Advisory Group lowered their price target on shares of Best Buy from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Loop Capital reissued a "negative" rating on shares of Best Buy in a research note on Wednesday, March 5th. Finally, Citigroup reissued a "neutral" rating and set a $70.00 target price (down from $93.00) on shares of Best Buy in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Best Buy has an average rating of "Hold" and an average price target of $90.72.

Best Buy Trading Down 3.1%

Shares of Best Buy stock opened at $71.53 on Tuesday. The firm has a market capitalization of $15.14 billion, a PE ratio of 12.23, a P/E/G ratio of 2.10 and a beta of 1.27. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.71. The firm's 50-day moving average price is $67.88 and its 200 day moving average price is $80.07. 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 (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.18. The firm had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period last year, the company posted $2.72 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were issued a $0.95 dividend. This is an increase from Best Buy's previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.31%. Best Buy's dividend payout ratio is presently 88.99%.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 51,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the completion of the sale, the chief financial officer now owns 55,856 shares in the company, valued at approximately $4,144,515.20. This represents a 47.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Corie S. Barry acquired 13,500 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $72.92 per share, with a total value of $984,420.00. Following the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at $27,620,637.60. The trade was a 3.70% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 78,355 shares of company stock worth $5,767,213. Insiders own 0.47% of the company's stock.

Best Buy Company 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.

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