Amundi Sells 670,076 Shares of Best Buy Co., Inc. (NYSE:BBY)

Amundi trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,122,359 shares of the technology retailer’s stock after selling 670,076 shares during the period. Amundi owned 1.46% of Best Buy worth $264,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc raised its position in Best Buy by 5.2% during the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock valued at $218,000 after purchasing an additional 125 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of Best Buy by 19.7% during the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock valued at $74,000 after buying an additional 142 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Best Buy by 0.5% during the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after buying an additional 145 shares during the last quarter. Access Investment Management LLC grew its stake in shares of Best Buy by 12.2% during the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock valued at $143,000 after buying an additional 150 shares during the last quarter. Finally, Claro Advisors LLC grew its stake in shares of Best Buy by 5.7% during the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after buying an additional 154 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BBY shares. Bank of America reduced their price objective on Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Wednesday. DA Davidson reduced their price objective on Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their price objective on Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Guggenheim reduced their price objective on Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Best Buy from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and an average target price of $93.50.

Best Buy Stock Performance

Shares of BBY opened at $79.66 on Friday. 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 Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The company has a 50-day simple moving average of $85.58 and a two-hundred day simple moving average of $90.43. The firm has a market capitalization of $17.03 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $13.95 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the business posted $2.72 earnings per share. On average, analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 4.77%. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio (DPR) 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.