CENTRAL TRUST Co grew its position in shares of Best Buy Co Inc (NYSE:BBY) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,485 shares of the technology retailer’s stock after buying an additional 585 shares during the quarter. CENTRAL TRUST Co’s holdings in Best Buy were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of BBY. Envestnet Asset Management Inc. lifted its holdings in shares of Best Buy by 3.4% during the second quarter. Envestnet Asset Management Inc. now owns 22,879 shares of the technology retailer’s stock valued at $1,707,000 after purchasing an additional 743 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Best Buy by 18.2% during the second quarter. Van ECK Associates Corp now owns 20,325 shares of the technology retailer’s stock valued at $1,516,000 after purchasing an additional 3,135 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Best Buy by 1,240.4% during the second quarter. Tower Research Capital LLC TRC now owns 9,852 shares of the technology retailer’s stock valued at $735,000 after purchasing an additional 9,117 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in shares of Best Buy by 80.4% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 8,300 shares of the technology retailer’s stock valued at $619,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Best Buy by 1.7% during the second quarter. Metropolitan Life Insurance Co. NY now owns 40,220 shares of the technology retailer’s stock valued at $3,000,000 after purchasing an additional 680 shares during the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BBY stock opened at $56.51 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.28 and a debt-to-equity ratio of 0.42. Best Buy Co Inc has a fifty-two week low of $47.72 and a fifty-two week high of $84.37. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.02 and a beta of 1.18.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.08. Best Buy had a return on equity of 44.41% and a net margin of 2.52%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.56 billion. During the same period in the prior year, the firm posted $0.78 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Best Buy Co Inc will post 5.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Tuesday, December 11th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, December 10th. Best Buy’s dividend payout ratio is 40.72%.

BBY has been the subject of several analyst reports. Zacks Investment Research downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Bank of America downgraded Best Buy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $70.00 to $50.00 in a research note on Monday, December 17th. Jefferies Financial Group set a $70.00 price objective on Best Buy and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Moffett Nathanson raised Best Buy from a “sell” rating to a “neutral” rating in a research note on Wednesday, December 19th. Finally, Morgan Stanley reduced their price objective on Best Buy from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Best Buy currently has a consensus rating of “Hold” and a consensus price target of $75.81.

In other news, CFO Corie S. Barry sold 6,783 shares of the stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $72.80, for a total transaction of $493,802.40. Following the transaction, the chief financial officer now owns 80,961 shares of the company’s stock, valued at approximately $5,893,960.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

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About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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