Stifel Financial Corp Sells 41,969 Shares of Best Buy Co., Inc. (NYSE:BBY)

Stifel Financial Corp decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 838,372 shares of the technology retailer's stock after selling 41,969 shares during the quarter. Stifel Financial Corp owned about 0.39% of Best Buy worth $71,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BBY. Stevens Capital Management LP boosted its stake in Best Buy by 228.7% in the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer's stock worth $1,941,000 after purchasing an additional 15,741 shares during the period. Invesco Ltd. boosted its position in shares of Best Buy by 20.5% in the fourth quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after acquiring an additional 629,180 shares during the period. Vanguard Group Inc. grew its stake in Best Buy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock valued at $1,971,908,000 after acquiring an additional 191,161 shares in the last quarter. Pinnacle Financial Partners Inc bought a new stake in Best Buy during the 4th quarter worth approximately $3,293,000. Finally, APG Asset Management N.V. bought a new stake in Best Buy during the 4th quarter worth approximately $9,073,000. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Transactions at Best Buy

In related news, insider Todd G. Hartman sold 4,893 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $355,476.45. Following the sale, the insider now directly owns 32,320 shares of the company's stock, valued at $2,348,048. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Corie S. Barry acquired 13,500 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $72.92 per share, with a total value of $984,420.00. Following the transaction, the chief executive officer now directly owns 378,780 shares of the company's stock, 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 ninety days, insiders sold 78,355 shares of company stock valued at $5,767,213. Company insiders own 0.59% of the company's stock.

Wall Street Analyst Weigh In

BBY has been the subject of a number of recent analyst reports. Morgan Stanley reduced 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 research report on Wednesday, March 5th. KeyCorp restated a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. Jefferies Financial Group dropped their price target on Best Buy from $106.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their price objective on shares of Best Buy from $115.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, Wedbush reiterated a "neutral" rating and set a $90.00 target price on shares of Best Buy in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Best Buy presently has a consensus rating of "Hold" and an average target price of $91.28.

Best Buy Trading Down 1.6 %

Shares of NYSE:BBY traded down $1.11 during trading on Monday, reaching $66.60. 1,098,640 shares of the company traded hands, compared to its average volume of 3,302,741. 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 Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.71. The business's fifty day moving average is $72.39 and its 200-day moving average is $82.78. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 2.10 and a beta of 1.42.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) 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 analysts' expectations of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter in the previous year, the company earned $2.72 earnings per share. As a group, analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were given a dividend of $0.95 per share. This is an increase from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend was Tuesday, March 25th. Best Buy's payout ratio is presently 88.99%.

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.