Greenleaf Trust Sells 1,174 Shares of Best Buy Co., Inc. (NYSE:BBY)

Greenleaf Trust lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,727 shares of the technology retailer’s stock after selling 1,174 shares during the period. Greenleaf Trust’s holdings in Best Buy were worth $527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC lifted its stake in Best Buy by 549.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 302 shares during the last quarter. Naples Money Management LLC bought a new stake in shares of Best Buy during the fourth quarter valued at approximately $27,000. Stonebridge Capital Advisors LLC raised its stake in shares of Best Buy by 81.9% during the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock valued at $29,000 after acquiring an additional 185 shares in the last quarter. Hartford Financial Management Inc. raised its stake in shares of Best Buy by 56.5% during the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 140 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of Best Buy by 72.5% during the fourth quarter. CENTRAL TRUST Co now owns 1,004 shares of the technology retailer’s stock valued at $79,000 after acquiring an additional 422 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Jefferies Financial Group decreased their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Wedbush lifted their price target on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. raised shares of Best Buy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $89.00 to $101.00 in a research note on Friday, March 22nd. Finally, Barclays lifted their price objective on shares of Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Best Buy presently has a consensus rating of “Hold” and an average target price of $84.60.

Insider Activity

In related news, CEO Corie S. Barry sold 366 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares in the company, valued at $32,670,060.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Corie S. Barry sold 366 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares in the company, valued at $32,670,060.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Corie S. Barry sold 28,042 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the transaction, the chief executive officer now owns 429,159 shares of the company’s stock, valued at $35,105,206.20. The disclosure for this sale can be found here. Insiders have sold 52,023 shares of company stock valued at $4,253,900 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Best Buy Price Performance

Shares of BBY opened at $75.13 on Tuesday. The firm has a market capitalization of $16.18 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37. Best Buy Co., Inc. has a 1-year low of $62.30 and a 1-year high of $86.11. The company’s fifty day moving average price is $77.94 and its 200-day moving average price is $74.03.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.61 earnings per share. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.00%. Best Buy’s payout ratio is 66.08%.

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.