LVW Advisors LLC Has $458,000 Position in Best Buy Co., Inc. (NYSE:BBY)

LVW Advisors LLC increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 81.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,586 shares of the technology retailer’s stock after acquiring an additional 2,501 shares during the quarter. LVW Advisors LLC’s holdings in Best Buy were worth $458,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Best Buy in the 4th quarter valued at $165,164,000. HS Management Partners LLC acquired a new position in Best Buy in the 4th quarter valued at $103,854,000. Epoch Investment Partners Inc. grew its holdings in Best Buy by 11,586.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 686,128 shares of the technology retailer’s stock valued at $53,710,000 after buying an additional 680,257 shares in the last quarter. KBC Group NV grew its holdings in Best Buy by 320.4% in the 4th quarter. KBC Group NV now owns 860,388 shares of the technology retailer’s stock valued at $67,352,000 after buying an additional 655,750 shares in the last quarter. Finally, Mairs & Power Inc. grew its holdings in Best Buy by 9,155.1% in the 4th quarter. Mairs & Power Inc. now owns 532,167 shares of the technology retailer’s stock valued at $41,658,000 after buying an additional 526,417 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Corie S. Barry sold 366 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the sale, the chief executive officer now owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Mathew Watson sold 3,520 shares of the stock in a transaction dated 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 owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Corie S. Barry sold 366 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,004,149 shares of company stock valued at $166,397,807. Company insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BBY. Loop Capital upped their price objective on Best Buy from $93.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 7th. Citigroup raised Best Buy from a “sell” rating to a “buy” rating and increased their target price for the stock from $67.00 to $100.00 in a report on Monday, June 3rd. Telsey Advisory Group reissued an “outperform” rating and set a $95.00 target price on shares of Best Buy in a report on Thursday, May 30th. DA Davidson increased their target price on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, UBS Group raised Best Buy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $106.00 in a report on Monday, June 17th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.87.

Best Buy Price Performance

Best Buy stock opened at $82.28 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $17.75 billion, a PE ratio of 14.41, a P/E/G ratio of 2.72 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 stock has a 50-day moving average price of $79.74 and a two-hundred day moving average price of $77.76.

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

Best Buy Announces Dividend

The company 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 $0.94 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $3.76 annualized dividend and a yield of 4.57%. Best Buy’s dividend payout ratio is presently 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.