Kathmere Capital Management LLC Cuts Stake in Best Buy Co., Inc. (NYSE:BBY)

Kathmere Capital Management LLC reduced its position in Best Buy Co., Inc. (NYSE:BBY) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,488 shares of the technology retailer’s stock after selling 1,346 shares during the quarter. Kathmere Capital Management LLC’s holdings in Best Buy were worth $471,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BBY. Charles Schwab Investment Management Inc. increased its holdings in shares of Best Buy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after acquiring an additional 241,988 shares during the period. Geode Capital Management LLC boosted its stake in Best Buy by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock valued at $499,954,000 after acquiring an additional 120,185 shares in the last quarter. Raymond James & Associates grew its holdings in Best Buy by 1.8% in the third quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer’s stock worth $355,374,000 after purchasing an additional 62,452 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Best Buy by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,055,743 shares of the technology retailer’s stock worth $257,569,000 after purchasing an additional 235,478 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Best Buy by 3.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer’s stock valued at $143,396,000 after purchasing an additional 44,693 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on BBY shares. Barclays dropped their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Telsey Advisory Group decreased their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. DA Davidson reiterated a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.72.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % 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. Company insiders own 0.59% of the company’s stock.

Best Buy Price Performance

Shares of BBY opened at $83.12 on Thursday. The company has a market cap of $17.77 billion, a P/E ratio of 14.21, a PEG ratio of 2.19 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The firm’s 50 day moving average price is $87.60 and its 200 day moving average price is $90.20.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period last year, the firm earned $1.29 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

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.