LexAurum Advisors LLC Invests $203,000 in Best Buy Co., Inc. (NYSE:BBY)

LexAurum Advisors LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,475 shares of the technology retailer’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC lifted its position in Best Buy by 549.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 302 shares during the last quarter. Bfsg LLC bought a new stake in Best Buy during the 4th quarter valued at approximately $25,000. Rise Advisors LLC grew its holdings in Best Buy by 69.5% in the 1st quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after buying an additional 132 shares during the last quarter. Naples Money Management LLC acquired a new stake in Best Buy in the 4th quarter valued at approximately $27,000. Finally, Access Investment Management LLC bought a new position in Best Buy in the 4th quarter worth approximately $27,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 3,520 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total value of $290,153.60. Following the completion of the sale, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $80.21, for a total transaction of $80,210,000.00. Following the completion of the sale, the chairman now owns 8,850 shares in the company, valued at approximately $709,858.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Mathew Watson sold 3,520 shares of the company’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 completion of the transaction, the chief accounting officer now owns 22,118 shares in the company, valued at approximately $1,823,186.74. The disclosure for this sale can be found here. Insiders have sold a total of 2,004,149 shares of company stock valued at $166,397,807 over the last 90 days. 0.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BBY shares. Barclays raised their price objective on shares of Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. The Goldman Sachs Group lifted their target price on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Jefferies Financial Group lowered their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. JPMorgan Chase & Co. upgraded Best Buy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $89.00 to $101.00 in a research report on Friday, March 22nd. Finally, Wedbush restated a “neutral” rating and set a $85.00 price objective on shares of Best Buy in a research report on Tuesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Best Buy has a consensus rating of “Moderate Buy” and an average price target of $90.87.

Best Buy Stock Performance

Shares of NYSE BBY opened at $90.40 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01. The stock has a 50 day moving average price of $78.76 and a 200 day moving average price of $77.32. The stock has a market capitalization of $19.50 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 2.98 and a beta of 1.49. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $93.72.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 30th. The technology retailer reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.96 billion. During the same period last year, the business earned $1.15 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. Analysts predict that Best Buy Co., Inc. will post 6.11 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 20th will be issued 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 payout ratio is currently 65.85%.

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.