Bowman & Co S.C. Has $900,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Bowman & Co S.C. reduced its stake in Best Buy Co., Inc. (NYSE:BBY) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,975 shares of the technology retailer’s stock after selling 476 shares during the period. Bowman & Co S.C.’s holdings in Best Buy were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC increased its stake in shares of 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 acquiring an additional 132 shares in the last quarter. Hartford Financial Management Inc. increased its stake in shares of Best Buy by 56.5% in the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 140 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Best Buy by 4.0% in the 4th quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after acquiring an additional 148 shares in the last quarter. Avory & Company LLC increased its stake in shares of Best Buy by 2.6% in the 4th quarter. Avory & Company LLC now owns 6,011 shares of the technology retailer’s stock valued at $471,000 after acquiring an additional 154 shares in the last quarter. Finally, Disciplined Equity Management Inc. increased its stake in shares of Best Buy by 1.1% in the 4th quarter. Disciplined Equity Management Inc. now owns 15,093 shares of the technology retailer’s stock valued at $1,181,000 after acquiring an additional 160 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BBY. Morgan Stanley lifted their price target on shares of Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Telsey Advisory Group reissued an “outperform” rating and issued a $95.00 price target on shares of Best Buy in a research report on Thursday, May 30th. Loop Capital lifted their price target on shares of Best Buy from $93.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Barclays lifted their price target 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. Finally, UBS Group raised shares of Best Buy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $106.00 in a research report on Monday, June 17th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Best Buy has a consensus rating of “Moderate Buy” and a consensus target price of $90.87.

Best Buy Trading Down 2.6 %

Shares of BBY opened at $84.26 on Thursday. The business’s 50-day moving average price is $79.24 and its 200-day moving average price is $77.53. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $93.72. The stock has a market cap of $18.18 billion, a PE ratio of 14.76, a P/E/G ratio of 2.79 and a beta of 1.49. The company has a quick ratio of 0.33, a current ratio of 1.01 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its quarterly 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 return on equity of 47.56% and a net margin of 2.90%. The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.11 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 20th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Thursday, June 20th. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $80.21, for a total value of $80,210,000.00. Following the transaction, the chairman now directly owns 8,850 shares in the company, valued at $709,858.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $80.21, for a total value of $80,210,000.00. Following the transaction, the chairman now directly owns 8,850 shares in the company, valued at $709,858.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now 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 three months, insiders have sold 2,004,149 shares of company stock worth $166,397,807. Insiders own 0.59% of the company’s stock.

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.