Vanguard Personalized Indexing Management LLC Raises Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Vanguard Personalized Indexing Management LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 17.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,882 shares of the technology retailer’s stock after acquiring an additional 5,508 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Best Buy were worth $3,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. AMF Tjanstepension AB acquired a new position in shares of Best Buy during the first quarter valued at about $8,676,000. GAMMA Investing LLC increased its stake in Best Buy by 78.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock valued at $172,000 after purchasing an additional 898 shares in the last quarter. Bridgewater Associates LP increased its stake in Best Buy by 34.9% during the 4th quarter. Bridgewater Associates LP now owns 195,156 shares of the technology retailer’s stock valued at $15,277,000 after purchasing an additional 50,438 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Best Buy by 11.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock worth $6,302,000 after buying an additional 7,663 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Best Buy during the fourth quarter worth $328,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

Shares of NYSE BBY opened at $98.48 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The firm has a market cap of $21.24 billion, a PE ratio of 17.25, a PEG ratio of 2.56 and a beta of 1.46. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $103.71. The firm has a fifty day moving average of $89.93 and a 200 day moving average of $83.32.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. As a group, research analysts predict that Best Buy Co., Inc. will post 6.26 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be given a $0.94 dividend. The ex-dividend date is Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 3.82%. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BBY shares. Barclays raised their target price on Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Bank of America raised their price objective on Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research note on Friday, August 30th. UBS Group lifted their target price on Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Evercore ISI increased their price target on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company increased their price objective on shares of Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.56.

Insider Transactions at Best Buy

In related news, EVP Jason J. Bonfig sold 3,500 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the transaction, the executive vice president now directly owns 50,714 shares of the company’s stock, valued at approximately $4,210,276.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Jason J. Bonfig sold 3,500 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $83.02, for a total transaction of $290,570.00. Following the transaction, the executive vice president now directly owns 50,714 shares in the company, valued at $4,210,276.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 600,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the completion of the sale, the chairman now owns 14,002,853 shares of the company’s stock, valued at approximately $1,236,311,891.37. The disclosure for this sale can be found here. Insiders have sold 1,383,370 shares of company stock valued at $122,233,276 over the last ninety days. Insiders own 0.59% of the company’s stock.

Best Buy Company 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.