Harrell Investment Partners LLC Lowers Holdings in Best Buy Co., Inc. (NYSE:BBY)

Harrell Investment Partners LLC cut its position in Best Buy Co., Inc. (NYSE:BBY) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,693 shares of the technology retailer’s stock after selling 165 shares during the quarter. Harrell Investment Partners LLC’s holdings in Best Buy were worth $2,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in Best Buy by 45.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,497 shares of the technology retailer’s stock worth $300,000 after purchasing an additional 1,097 shares in the last quarter. CX Institutional lifted its stake in Best Buy by 1.0% in the 4th quarter. CX Institutional now owns 20,524 shares of the technology retailer’s stock worth $1,761,000 after purchasing an additional 213 shares in the last quarter. Impact Partnership Wealth LLC lifted its stake in Best Buy by 20.0% in the 4th quarter. Impact Partnership Wealth LLC now owns 11,938 shares of the technology retailer’s stock worth $1,024,000 after purchasing an additional 1,991 shares in the last quarter. Donoghue Forlines LLC lifted its stake in Best Buy by 46.7% in the 4th quarter. Donoghue Forlines LLC now owns 18,099 shares of the technology retailer’s stock worth $1,553,000 after purchasing an additional 5,758 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Best Buy by 60.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,670 shares of the technology retailer’s stock worth $1,430,000 after purchasing an additional 6,274 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated 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 of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BBY. Morgan Stanley lowered their price objective on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Barclays lowered their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. UBS Group lowered their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Citigroup lowered their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Price Performance

Shares of Best Buy stock opened at $84.80 on Friday. The company’s fifty day simple moving average is $86.49 and its two-hundred day simple moving average is $90.14. The firm has a market cap of $18.13 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 2.11 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 12-month low of $69.29 and a 12-month high of $103.71.

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

Best Buy Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is 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.