Blair William & Co. IL Buys 2,055 Shares of Best Buy Co., Inc. (NYSE:BBY)

Blair William & Co. IL raised its stake in Best Buy Co., Inc. (NYSE:BBY) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,759 shares of the technology retailer’s stock after purchasing an additional 2,055 shares during the period. Blair William & Co. IL’s holdings in Best Buy were worth $4,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC lifted its stake in shares of 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 period. Palisade Asset Management LLC acquired a new stake in shares of Best Buy during the 1st quarter worth approximately $27,000. PrairieView Partners LLC increased its position in shares of Best Buy by 67.1% during the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 151 shares during the period. Innealta Capital LLC acquired a new position in shares of Best Buy in the second quarter valued at $35,000. Finally, American National Bank bought a new position in Best Buy in the first quarter worth $37,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 691,328 shares of Best Buy stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the sale, the chairman now owns 14,911,525 shares of the company’s stock, valued at approximately $1,319,073,501.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $61,154,874.88. Following the completion of the transaction, the chairman now directly owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard M. Schulze sold 600,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,236,311,891.37. The disclosure for this sale can be found here. Insiders sold a total of 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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BBY. Wedbush boosted their price target on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company increased their price target on shares of Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. DA Davidson lifted their price objective on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, May 31st. BNP Paribas raised Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their target price on Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and a consensus price target of $102.56.

Best Buy Stock Performance

BBY stock opened at $97.30 on Friday. The stock has a market capitalization of $20.99 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The company has a 50 day moving average price of $90.15 and a 200 day moving average price of $83.51. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 earnings per share. Analysts forecast that Best Buy Co., Inc. will post 6.26 EPS for the current year.

Best Buy Announces Dividend

The firm 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Thursday, September 19th. Best Buy’s dividend payout ratio is 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.