Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Kathmere Capital Management LLC

Kathmere Capital Management LLC raised its position in Best Buy Co., Inc. (NYSE:BBY) by 25.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,037 shares of the technology retailer’s stock after acquiring an additional 1,426 shares during the quarter. Kathmere Capital Management LLC’s holdings in Best Buy were worth $577,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rise Advisors LLC lifted its stake in Best Buy by 69.5% in the first 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. Hartford Financial Management Inc. raised its stake 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 valued at $30,000 after purchasing an additional 140 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Best Buy by 4.0% during the fourth quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after purchasing an additional 148 shares in the last quarter. Avory & Company LLC raised its stake in shares of Best Buy by 2.6% during the fourth quarter. Avory & Company LLC now owns 6,011 shares of the technology retailer’s stock valued at $471,000 after purchasing an additional 154 shares in the last quarter. Finally, Disciplined Equity Management Inc. raised its stake in shares of Best Buy by 1.1% during the fourth quarter. Disciplined Equity Management Inc. now owns 15,093 shares of the technology retailer’s stock valued at $1,181,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Down 0.0 %

Shares of Best Buy stock opened at $84.29 on Friday. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 2.72 and a beta of 1.49. 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 Co., Inc. has a 52-week low of $62.30 and a 52-week high of $93.72. The stock has a 50-day simple moving average of $79.74 and a 200-day simple moving average of $77.72.

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

Best Buy Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and set a $95.00 price objective on shares of Best Buy in a research note on Thursday, May 30th. JPMorgan Chase & Co. raised Best Buy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $89.00 to $101.00 in a research note on Friday, March 22nd. Citigroup raised Best Buy from a “sell” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $100.00 in a research note on Monday, June 3rd. Loop Capital lifted their price target on Best Buy from $93.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, Jefferies Financial Group dropped 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. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.87.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $85.85, for a total value of $85,850,000.00. Following the completion of the sale, the chairman now directly owns 15,890,103 shares in the company, valued at approximately $1,364,165,342.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Best Buy news, CAO Mathew Watson sold 3,520 shares of Best Buy 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 transaction, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at approximately $1,823,186.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $85.85, for a total value of $85,850,000.00. Following the completion of the transaction, the chairman now directly owns 15,890,103 shares in the company, valued at $1,364,165,342.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,004,149 shares of company stock worth $166,397,807. 0.59% of the stock is currently owned by insiders.

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.