GTS Securities LLC Sells 12,981 Shares of Best Buy Co., Inc. (NYSE:BBY)

GTS Securities LLC reduced its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 83.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,549 shares of the technology retailer's stock after selling 12,981 shares during the period. GTS Securities LLC's holdings in Best Buy were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Rakuten Securities Inc. lifted its position in shares of Best Buy by 971.9% during 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 acquired a new position in Best Buy in the fourth quarter valued at about $32,000. Atlas Capital Advisors Inc. raised its stake 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 in the last quarter. Ancora Advisors LLC lifted its position in Best Buy by 18,700.0% during the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after purchasing an additional 374 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Best Buy during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Transactions at Best Buy

In other Best Buy news, insider Todd G. Hartman sold 4,893 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the sale, the insider now directly owns 32,320 shares in the company, valued at approximately $2,348,048. This trade represents a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Corie S. Barry acquired 13,500 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $72.92 per share, with a total value of $984,420.00. Following the completion of the transaction, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. This represents a 3.70% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 78,355 shares of company stock worth $5,767,213. Company insiders own 0.47% of the company's stock.

Best Buy Trading Up 3.0%

Shares of Best Buy stock traded up $2.00 during trading on Monday, hitting $68.28. The company's stock had a trading volume of 4,783,029 shares, compared to its average volume of 3,351,937. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The stock has a 50-day moving average price of $67.25 and a two-hundred day moving average price of $78.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, topping the consensus estimate of $1.09 by $0.06. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.80 annualized dividend and a yield of 5.57%. Best Buy's payout ratio is 88.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BBY. Morgan Stanley cut their price target on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Guggenheim restated a "buy" rating and set a $90.00 target price on shares of Best Buy in a research note on Friday. Bank of America decreased their price target on Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a research note on Wednesday, March 5th. UBS Group lowered their price target on Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday. Finally, DA Davidson reissued a "buy" rating and set a $110.00 target price on shares of Best Buy in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $86.11.

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.