Johnson Financial Group Inc. Sells 405 Shares of Best Buy Co., Inc. (NYSE:BBY)

Johnson Financial Group Inc. lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,400 shares of the technology retailer’s stock after selling 405 shares during the period. Johnson Financial Group Inc.’s holdings in Best Buy were worth $2,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc grew its holdings in shares of Best Buy by 5.2% during the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock worth $218,000 after purchasing an additional 125 shares during the last quarter. Mariner LLC grew its holdings in 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 acquiring an additional 129 shares during the last quarter. Rothschild Investment LLC grew its holdings in 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 acquiring an additional 142 shares during the last quarter. Independent Advisor Alliance increased its position in Best Buy by 5.0% in the 4th quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock valued at $258,000 after acquiring an additional 142 shares during the period. Finally, Yousif Capital Management LLC raised 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 acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity

In related news, CFO Matthew M. Bilunas sold 51,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $74.20, for a total value of $3,784,200.00. Following the completion of the sale, the chief financial officer now directly owns 55,856 shares of the company’s stock, valued at approximately $4,144,515.20. This represents a 47.73 % decrease in their position. The transaction 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 business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the acquisition, the chief executive officer now directly owns 378,780 shares in the company, valued at approximately $27,620,637.60. The trade was a 3.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 78,355 shares of company stock worth $5,767,213 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Stock Up 2.6 %

BBY stock opened at $67.71 on Friday. The stock’s 50 day simple moving average is $72.39 and its 200 day simple moving average is $82.99. The company has a market cap of $14.31 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $2.72 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were paid a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, March 25th. This is an increase from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.61%. Best Buy’s dividend payout ratio is 88.99%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. KeyCorp restated a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 5th. Wedbush reissued a “neutral” rating and issued a $90.00 price target on shares of Best Buy in a research note on Monday, March 3rd. Jefferies Financial Group cut their price objective on Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Telsey Advisory Group decreased their target price on shares of Best Buy from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, DA Davidson restated a “buy” rating and issued a $110.00 price target on shares of Best Buy in a research report on Monday, April 14th. Two 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.28.

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.