Swiss National Bank Decreases Position in Best Buy Co., Inc. (NYSE:BBY)

Swiss National Bank lessened its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 612,000 shares of the technology retailer's stock after selling 19,700 shares during the quarter. Swiss National Bank owned about 0.28% of Best Buy worth $47,907,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised its holdings in Best Buy by 549.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer's stock worth $25,000 after acquiring an additional 302 shares during the period. Bfsg LLC bought a new position in Best Buy in the 4th quarter worth $25,000. Naples Money Management LLC bought a new position in Best Buy in the 4th quarter worth $27,000. Stonebridge Capital Advisors LLC raised its holdings in Best Buy by 81.9% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer's stock worth $29,000 after acquiring an additional 185 shares during the period. Finally, Hartford Financial Management Inc. raised its holdings in Best Buy by 56.5% in the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer's stock worth $30,000 after acquiring an additional 140 shares during the period. Institutional investors own 80.96% of the company's stock.

Insiders Place Their Bets

In other Best Buy news, CEO Corie S. Barry sold 366 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total value of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares in the company, valued at $32,670,060.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Mathew Watson sold 2,505 shares of the firm's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $204,909.00. Following the completion of the sale, the chief accounting officer now owns 25,638 shares in the company, valued at approximately $2,097,188.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the sale, the chief executive officer now owns 431,231 shares of the company's stock, valued at approximately $32,670,060.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,023 shares of company stock worth $4,253,900. Company insiders own 0.59% of the company's stock.

Best Buy Trading Down 1.8 %

Shares of BBY traded down $1.34 on Tuesday, reaching $73.06. 2,609,018 shares of the company's stock were exchanged, compared to its average volume of 2,925,016. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $15.81 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.50. The business has a 50 day moving average price of $77.75 and a two-hundred day moving average price of $74.34. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.51 by $0.21. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. Best Buy's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.61 earnings per share. Research analysts anticipate that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from Best Buy's previous quarterly dividend of $0.92. This represents a $3.76 annualized dividend and a yield of 5.15%. Best Buy's dividend payout ratio (DPR) is 66.08%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BBY shares. Telsey Advisory Group upgraded shares of Best Buy from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $85.00 to $95.00 in a report on Wednesday, March 20th. JPMorgan Chase & Co. upgraded shares of Best Buy from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $89.00 to $101.00 in a report on Friday, March 22nd. Morgan Stanley boosted their price objective on shares of Best Buy from $80.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, March 1st. Citigroup dropped their price objective on shares of Best Buy from $76.00 to $67.00 and set a "sell" rating on the stock in a report on Tuesday. Finally, TheStreet upgraded shares of Best Buy from a "c" rating to a "b-" rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $84.00.

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.