Public Employees Retirement Association of Colorado Increases Position in Best Buy Co., Inc. (NYSE:BBY)

Public Employees Retirement Association of Colorado lifted its holdings in Best Buy Co., Inc. (NYSE:BBYFree Report) by 204.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,791 shares of the technology retailer’s stock after purchasing an additional 14,623 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Best Buy were worth $1,706,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its holdings in Best Buy by 549.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after buying an additional 302 shares during the last quarter. Bfsg LLC acquired a new stake in Best Buy in the 4th quarter worth about $25,000. Naples Money Management LLC acquired a new stake in Best Buy in the 4th quarter worth about $27,000. Access Investment Management LLC acquired a new stake in Best Buy in the 4th quarter worth about $27,000. Finally, Stonebridge Capital Advisors LLC boosted its holdings in Best Buy by 81.9% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock worth $29,000 after buying an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upgraded Best Buy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $89.00 to $101.00 in a report on Friday, March 22nd. UBS Group boosted their target price on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. DA Davidson boosted their target price on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Barclays boosted their target price on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.47.

Get Our Latest Stock Analysis on Best Buy

Best Buy Trading Down 0.9 %

Shares of Best Buy stock opened at $87.13 on Tuesday. The firm has a market capitalization of $18.85 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.84 and a beta of 1.49. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $89.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01. The stock has a 50 day moving average of $76.94 and a 200 day moving average of $76.20.

Best Buy (NYSE:BBYGet Free Report) last released its quarterly earnings results on Thursday, May 30th. The technology retailer reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. Best Buy had a return on equity of 47.56% and a net margin of 2.90%. The company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. As a group, research analysts predict that Best Buy Co., Inc. will post 6.11 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Thursday, June 20th. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the transaction, the chairman now directly owns 15,890,103 shares in the company, valued at $1,364,165,342.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Best Buy news, CAO Mathew Watson sold 3,520 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total transaction of $290,153.60. Following the transaction, the chief accounting officer now directly owns 22,118 shares in the company, valued at $1,823,186.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 1,000,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $85.85, for a total value of $85,850,000.00. Following the completion of the sale, the chairman now owns 15,890,103 shares in the company, valued at $1,364,165,342.55. The disclosure for this sale can be found here. Insiders have sold 2,052,023 shares of company stock worth $170,313,900 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Best Buy Company Profile

(Free Report)

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.

Further Reading

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:BBYFree Report).

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.