Brighton Jones LLC Purchases 217 Shares of Best Buy Co., Inc. (NYSE:BBY)

Brighton Jones LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,737 shares of the technology retailer’s stock after purchasing an additional 217 shares during the period. Brighton Jones LLC’s holdings in Best Buy were worth $231,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB bought a new position in shares of Best Buy in the first quarter valued at approximately $8,676,000. GAMMA Investing LLC boosted its stake in Best Buy by 78.7% in the second quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock worth $172,000 after purchasing an additional 898 shares in the last quarter. Bridgewater Associates LP grew its holdings in shares of Best Buy by 34.9% during the fourth quarter. Bridgewater Associates LP now owns 195,156 shares of the technology retailer’s stock worth $15,277,000 after purchasing an additional 50,438 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake 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 valued at $6,302,000 after buying an additional 7,663 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Best Buy by 214.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 426,430 shares of the technology retailer’s stock valued at $33,381,000 after buying an additional 290,812 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 691,328 shares of Best Buy stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total value of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares of the company’s stock, valued at $1,319,073,501.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Richard M. Schulze sold 691,328 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, the chairman now directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jason J. Bonfig sold 3,500 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the transaction, the executive vice president now owns 50,714 shares of the company’s stock, valued at $4,210,276.28. The disclosure for this sale can be found here. In the last three months, insiders sold 1,383,370 shares of company stock worth $122,233,276. 0.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wedbush raised their price objective on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on shares of Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. DA Davidson upped their price objective on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Telsey Advisory Group lifted their target price on Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, BNP Paribas raised Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Best Buy currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.56.

Best Buy Stock Down 1.2 %

Shares of NYSE BBY opened at $97.30 on Monday. The firm has a 50 day moving average price of $90.15 and a 200 day moving average price of $83.54. 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 stock has a market cap of $20.99 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.56 and a beta of 1.46. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $103.71.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating 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 firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS. Analysts expect that Best Buy Co., Inc. will post 6.26 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors 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 3.86%. Best Buy’s dividend payout ratio is presently 65.85%.

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.