Foundations Investment Advisors LLC Sells 1,035 Shares of Best Buy Co., Inc. (NYSE:BBY)

Foundations Investment Advisors LLC lessened its holdings in Best Buy Co., Inc. (NYSE:BBY) by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,723 shares of the technology retailer’s stock after selling 1,035 shares during the period. Foundations Investment Advisors LLC’s holdings in Best Buy were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBY. Park Avenue Securities LLC raised its holdings in shares of Best Buy by 1.3% in the 3rd quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock worth $855,000 after buying an additional 103 shares in the last quarter. Greenleaf Trust raised its stake in Best Buy by 1.2% during the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock worth $977,000 after acquiring an additional 108 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Best Buy by 4.6% during the third quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock valued at $276,000 after acquiring an additional 118 shares during the period. Hoxton Planning & Management LLC boosted its stake in shares of Best Buy by 3.7% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock valued at $360,000 after purchasing an additional 124 shares in the last quarter. Finally, Access Investment Management LLC grew its holdings in shares of Best Buy by 12.2% in the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction 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 sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.59% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BBY shares. Guggenheim cut their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. DA Davidson reiterated a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. UBS Group dropped their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Citigroup reduced their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Trading Up 2.1 %

BBY opened at $86.87 on Friday. The firm’s fifty day moving average is $86.38 and its two-hundred day moving average is $90.16. The firm has a market cap of $18.57 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. 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 (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $9.63 billion. During the same period in the previous year, the business posted $1.29 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.33%. Best Buy’s dividend payout ratio is presently 64.27%.

Best Buy Company 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.