Central Pacific Bank Trust Division Grows Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Central Pacific Bank Trust Division increased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 10.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,379 shares of the technology retailer’s stock after acquiring an additional 426 shares during the period. Central Pacific Bank Trust Division’s holdings in Best Buy were worth $376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in shares of Best Buy by 4,337.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock worth $92,677,000 after purchasing an additional 1,074,718 shares during the period. AQR Capital Management LLC boosted its stake in Best Buy by 55.4% during the second quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock worth $116,252,000 after buying an additional 491,781 shares during the period. National Bank of Canada FI increased its position in shares of Best Buy by 817.4% during the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock valued at $55,564,000 after acquiring an additional 479,256 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Best Buy in the 2nd quarter valued at approximately $25,287,000. Finally, Andra AP fonden lifted its holdings in shares of Best Buy by 356.5% in the 2nd quarter. Andra AP fonden now owns 331,900 shares of the technology retailer’s stock worth $27,976,000 after acquiring an additional 259,187 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on 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 transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.59% of the stock is owned by company insiders.

Best Buy Price Performance

BBY stock opened at $83.62 on Friday. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.19 and a beta of 1.44. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $88.80 and a 200 day moving average price of $90.47.

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

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Telsey Advisory Group cut their target price on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. DA Davidson reiterated a “buy” rating and issued a $117.00 price objective on shares of Best Buy in a report on Tuesday, October 15th. Citigroup lowered their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Guggenheim cut their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, UBS Group lowered their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Best Buy has an average rating of “Moderate Buy” and a consensus target price of $101.06.

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.