Nomura Holdings Inc. Cuts Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Nomura Holdings Inc. trimmed its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 28.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,910 shares of the technology retailer’s stock after selling 1,580 shares during the period. Nomura Holdings Inc.’s holdings in Best Buy were worth $306,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bfsg LLC purchased a new position in Best Buy during the fourth quarter valued at $25,000. Naples Money Management LLC bought a new position in Best Buy during the fourth quarter valued at $27,000. Access Investment Management LLC bought a new position in Best Buy during the fourth quarter valued at $27,000. Cary Street Partners Investment Advisory LLC lifted its position in 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 purchasing an additional 302 shares during the last quarter. Finally, Hartford Financial Management Inc. lifted its position in 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 purchasing an additional 140 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Down 2.1 %

BBY stock opened at $90.40 on Friday. The company has a market capitalization of $19.50 billion, a PE ratio of 15.83, a P/E/G ratio of 2.98 and a beta of 1.49. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $93.72. The firm’s 50-day moving average is $78.76 and its 200 day moving average is $77.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.33.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 30th. The technology retailer reported $1.20 EPS for the quarter, topping the consensus estimate of $1.08 by $0.12. The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.96 billion. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.11 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Thursday, June 20th. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the transaction, the chairman now owns 15,890,103 shares of the company’s stock, valued at approximately $1,364,165,342.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Best Buy news, Chairman Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the transaction, the chairman now owns 15,890,103 shares of the company’s stock, valued at approximately $1,364,165,342.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mathew Watson sold 3,520 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $82.43, for a total transaction of $290,153.60. Following the transaction, the chief accounting officer now directly owns 22,118 shares in the company, valued at approximately $1,823,186.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,004,149 shares of company stock valued at $166,397,807. Company insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays increased their price objective on shares of Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $89.00 to $101.00 in a report on Friday, March 22nd. The Goldman Sachs Group raised their target price on shares of Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Wedbush restated a “neutral” rating and issued a $85.00 target price on shares of Best Buy in a report on Tuesday, May 28th. Finally, DA Davidson raised their target price on shares of Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.87.

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.