Best Buy Co., Inc. (NYSE:BBY) Shares Sold by GTS Securities LLC

GTS Securities LLC cut its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 83.6% in the fourth quarter, according to its most recent Form 13F filing 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 quarter. GTS Securities LLC's holdings in Best Buy were worth $219,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BBY. IFP Advisors Inc raised its stake in shares of Best Buy by 5.2% during the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer's stock worth $218,000 after buying an additional 125 shares during the period. Mariner LLC raised its stake in shares of Best Buy by 0.3% during the 4th quarter. Mariner LLC now owns 43,215 shares of the technology retailer's stock worth $3,708,000 after buying an additional 129 shares during the period. LRI Investments LLC raised its stake in shares of Best Buy by 36.3% during the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock worth $45,000 after buying an additional 141 shares during the period. Rothschild Investment LLC raised its stake in shares of Best Buy by 19.7% during the 4th quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer's stock worth $74,000 after buying an additional 142 shares during the period. Finally, Independent Advisor Alliance raised its stake in shares of Best Buy by 5.0% during the 4th quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer's stock worth $258,000 after buying an additional 142 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Trading Down 0.2%

BBY traded down $0.17 during mid-day trading on Wednesday, hitting $69.67. 2,495,822 shares of the stock were exchanged, compared to its average volume of 3,320,519. The firm's fifty day moving average is $66.96 and its two-hundred day moving average is $78.47. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a market cap of $14.75 billion, a PE ratio of 11.91, a PEG ratio of 2.10 and a beta of 1.25.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (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 analyst estimates of $8.77 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy's revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.45%. The ex-dividend date is Wednesday, June 18th. Best Buy's payout ratio is presently 92.91%.

Wall Street Analyst Weigh In

BBY has been the subject of several research reports. Telsey Advisory Group reiterated an "outperform" rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, May 30th. Citigroup reiterated a "neutral" rating and set a $70.00 price target (down from $93.00) on shares of Best Buy in a research report on Thursday, April 3rd. UBS Group dropped their price target on Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Wedbush dropped their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Finally, Guggenheim reiterated a "buy" rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Best Buy presently has a consensus rating of "Hold" and an average price target of $86.11.

Insider Activity

In other news, CAO Mathew Watson sold 3,182 shares of Best Buy stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the transaction, the chief accounting officer now owns 19,218 shares in the company, valued at approximately $1,370,051.22. This trade represents a 14.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Corie S. Barry acquired 13,500 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $72.92 per share, with a total value of $984,420.00. Following the purchase, the chief executive officer now directly owns 378,780 shares in the company, valued at approximately $27,620,637.60. This trade represents 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. 0.59% of the stock is currently owned by company insiders.

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.