Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Cozad Asset Management Inc.

Cozad Asset Management Inc. lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,277 shares of the technology retailer’s stock after selling 1,019 shares during the quarter. Cozad Asset Management Inc.’s holdings in Best Buy were worth $1,666,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BBY. Cary Street Partners Investment Advisory LLC increased its stake in shares of Best Buy by 549.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 302 shares during the period. Bfsg LLC acquired a new position in Best Buy in the fourth quarter worth approximately $25,000. Naples Money Management LLC bought a new position in shares of Best Buy in the fourth quarter valued at $27,000. Stonebridge Capital Advisors LLC boosted its stake in shares of Best Buy by 81.9% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock worth $29,000 after acquiring an additional 185 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its position 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 worth $30,000 after purchasing an additional 140 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other Best Buy news, insider Todd G. Hartman sold 3,973 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the sale, the insider now owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Todd G. Hartman sold 3,973 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the transaction, the insider now owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares in the company, valued at $32,670,060.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,023 shares of company stock worth $4,253,900. Company insiders own 0.56% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY opened at $73.61 on Wednesday. The business’s 50-day simple moving average is $78.05 and its 200-day simple moving average is $74.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $86.11. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.96 and a beta of 1.49.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, beating the consensus estimate of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The company had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.58 billion. During the same quarter last year, the company posted $2.61 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.03 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 5.11%. This is a boost from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, March 20th. Best Buy’s dividend payout ratio is 66.08%.

Wall Street Analyst Weigh In

BBY has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Citigroup increased their target price on Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a report on Friday, March 1st. Wedbush upped their price target on Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised Best Buy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $89.00 to $101.00 in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.60.

About Best Buy

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.