71,834 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBYGet Rating) in the third quarter, HoldingsChannel.com reports. The firm acquired 71,834 shares of the technology retailer’s stock, valued at approximately $4,550,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BerganKDV Wealth Management LLC lifted its stake in Best Buy by 13,566.7% in the second quarter. BerganKDV Wealth Management LLC now owns 410 shares of the technology retailer’s stock valued at $27,000 after buying an additional 407 shares during the last quarter. Clear Street Markets LLC lifted its stake in Best Buy by 376.4% in the second quarter. Clear Street Markets LLC now owns 424 shares of the technology retailer’s stock valued at $28,000 after buying an additional 335 shares during the last quarter. Ellevest Inc. lifted its stake in Best Buy by 91.1% in the second quarter. Ellevest Inc. now owns 472 shares of the technology retailer’s stock valued at $31,000 after buying an additional 225 shares during the last quarter. Glassman Wealth Services lifted its stake in Best Buy by 242.0% in the second quarter. Glassman Wealth Services now owns 472 shares of the technology retailer’s stock valued at $31,000 after buying an additional 334 shares during the last quarter. Finally, ACG Wealth purchased a new stake in Best Buy in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 78.48% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 366,100 shares of the company’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $81.94, for a total value of $29,998,234.00. Following the transaction, the chairman now directly owns 590,148 shares in the company, valued at approximately $48,356,727.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Best Buy news, Chairman Richard M. Schulze sold 366,100 shares of Best Buy stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $81.94, for a total value of $29,998,234.00. Following the completion of the sale, the chairman now directly owns 590,148 shares of the company’s stock, valued at approximately $48,356,727.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Damien Harmon sold 2,500 shares of the stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $79.99, for a total value of $199,975.00. Following the transaction, the executive vice president now directly owns 42,805 shares in the company, valued at approximately $3,423,971.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 368,628 shares of company stock worth $30,200,017. 0.44% of the stock is owned by corporate insiders.

Best Buy Stock Up 2.7 %

Best Buy stock opened at $84.27 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.26 and a current ratio of 0.98. The firm has a market capitalization of $18.65 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.72 and a beta of 1.48. Best Buy Co., Inc. has a fifty-two week low of $60.78 and a fifty-two week high of $112.96. The stock’s fifty day moving average is $78.73 and its two-hundred day moving average is $74.12.

Best Buy (NYSE:BBYGet Rating) last posted its earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.35. Best Buy had a return on equity of 57.26% and a net margin of 3.23%. The company had revenue of $10.59 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the prior year, the company earned $2.08 earnings per share. Best Buy’s revenue was down 11.1% compared to the same quarter last year. Analysts predict that Best Buy Co., Inc. will post 6.55 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Tuesday, December 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, December 12th. Best Buy’s payout ratio is currently 52.69%.

Analysts Set New Price Targets

BBY has been the topic of a number of recent research reports. Telsey Advisory Group boosted their target price on Best Buy from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, November 23rd. StockNews.com initiated coverage on Best Buy in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wedbush boosted their target price on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 23rd. The Goldman Sachs Group raised Best Buy from a “sell” rating to a “neutral” rating and boosted their target price for the company from $59.00 to $83.00 in a report on Monday, December 12th. Finally, TheStreet raised Best Buy from a “c+” rating to a “b” rating in a report on Wednesday, December 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.71.

Best Buy Company Profile

(Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

Featured Articles

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBYGet Rating).

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.