Hoxton Planning & Management LLC Boosts Stake in Best Buy Co., Inc. (NYSE:BBY)

Hoxton Planning & Management LLC lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,481 shares of the technology retailer’s stock after purchasing an additional 124 shares during the quarter. Hoxton Planning & Management LLC’s holdings in Best Buy were worth $360,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBY. Park Avenue Securities LLC boosted its position in shares of Best Buy by 1.3% during the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock worth $855,000 after buying an additional 103 shares during the period. Tobam lifted its holdings in Best Buy by 15.6% in the second quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after purchasing an additional 121 shares during the period. LVW Advisors LLC grew its position in Best Buy by 2.3% in the 2nd quarter. LVW Advisors LLC now owns 5,716 shares of the technology retailer’s stock valued at $482,000 after buying an additional 130 shares in the last quarter. Rise Advisors LLC increased its stake in Best Buy by 69.5% during the 1st 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 period. Finally, MCF Advisors LLC raised its position in shares of Best Buy by 2.7% during the 1st quarter. MCF Advisors LLC now owns 5,087 shares of the technology retailer’s stock worth $422,000 after buying an additional 134 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Trading Up 0.5 %

NYSE:BBY opened at $98.33 on Wednesday. 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 company has a market capitalization of $21.21 billion, a P/E ratio of 17.22, 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. The stock’s 50 day moving average price is $92.80 and its 200 day moving average price is $85.22.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the prior year, the company posted $1.22 earnings per share. Best Buy’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently declared 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Thursday, September 19th. Best Buy’s dividend payout ratio is 65.85%.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the completion of the sale, the chairman now directly owns 13,602,853 shares in the company, valued at $1,200,451,777.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Best Buy news, Chairman Richard M. Schulze sold 691,328 shares of the stock in a transaction 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 completion of the sale, the chairman now directly owns 14,911,525 shares of the company’s stock, valued at $1,319,073,501.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 88,542 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the completion of the sale, the chairman now owns 13,602,853 shares of the company’s stock, valued at approximately $1,200,451,777.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,379,870 shares of company stock worth $121,942,706. 0.59% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BBY shares. The Goldman Sachs Group increased their price objective on shares of Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Citigroup boosted their price objective on Best Buy from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. 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. Melius Research initiated coverage on Best Buy in a research note on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective for the company. Finally, Barclays boosted their target price on Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and a consensus price target of $102.41.

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.