Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. boosted its position in shares of Best Buy Co., Inc. (NYSE:BBYGet Rating) by 20.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,231 shares of the technology retailer’s stock after acquiring an additional 211 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Best Buy were worth $78,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Best Buy by 1,434.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,845,844 shares of the technology retailer’s stock worth $315,901,000 after purchasing an additional 4,530,018 shares during the period. Northern Trust Corp lifted its stake in Best Buy by 2.0% during the 2nd quarter. Northern Trust Corp now owns 3,744,729 shares of the technology retailer’s stock valued at $244,119,000 after acquiring an additional 72,608 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Best Buy by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,720,949 shares of the technology retailer’s stock valued at $338,235,000 after acquiring an additional 236,513 shares during the last quarter. Amundi increased its stake in shares of Best Buy by 15.9% in the second quarter. Amundi now owns 3,094,601 shares of the technology retailer’s stock worth $207,915,000 after acquiring an additional 424,638 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Best Buy by 21.7% during the first quarter. First Trust Advisors LP now owns 2,359,623 shares of the technology retailer’s stock worth $214,490,000 after purchasing an additional 420,134 shares during the last quarter. Hedge funds and other institutional investors own 78.48% of the company’s stock.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 366,100 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $81.94, for a total transaction of $29,998,234.00. Following the transaction, the chairman now owns 590,148 shares of the company’s stock, valued at $48,356,727.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Damien Harmon sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $79.99, for a total transaction of $199,975.00. Following the completion of the sale, the executive vice president now owns 42,805 shares in the company, valued at approximately $3,423,971.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 366,100 shares of the company’s 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 transaction, the chairman now owns 590,148 shares in the company, valued at $48,356,727.12. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Best Buy Stock Down 0.7 %

NYSE BBY opened at $85.78 on Tuesday. The business has a fifty day moving average price of $80.21 and a 200 day moving average price of $74.62. 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 company has a market cap of $18.98 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.73 and a beta of 1.48. Best Buy Co., Inc. has a one year low of $60.78 and a one year high of $112.96.

Best Buy (NYSE:BBYGet Rating) last issued its earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.35. The business had revenue of $10.59 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Best Buy had a net margin of 3.23% and a return on equity of 57.26%. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 earnings per share. Research analysts anticipate that Best Buy Co., Inc. will post 6.59 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Tuesday, December 13th were given a $0.88 dividend. The ex-dividend date of this dividend was Monday, December 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.10%. Best Buy’s dividend payout ratio (DPR) is presently 52.69%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BBY. Wedbush increased their price target on Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 23rd. The Goldman Sachs Group upgraded Best Buy from a “sell” rating to a “neutral” rating and lifted their price target for the company from $59.00 to $83.00 in a research report on Monday, December 12th. UBS Group upped their price objective on Best Buy to $80.00 in a research report on Thursday, November 24th. Telsey Advisory Group lifted their target price on shares of Best Buy from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, November 23rd. Finally, Bank of America downgraded shares of Best Buy from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $80.00 to $69.00 in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $82.71.

Best Buy 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.

See Also

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.