Schroder Investment Management Group Buys 50,093 Shares of Best Buy Co., Inc. (NYSE:BBY)

Schroder Investment Management Group lifted its stake in Best Buy Co., Inc. (NYSE:BBYFree Report) by 22.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 275,809 shares of the technology retailer’s stock after acquiring an additional 50,093 shares during the period. Schroder Investment Management Group owned 0.13% of Best Buy worth $21,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBY. Cary Street Partners Investment Advisory LLC raised its position in shares of Best Buy by 549.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 302 shares during the period. Bfsg LLC bought a new position in Best Buy in the 4th quarter worth $25,000. Naples Money Management LLC acquired a new position in Best Buy during the 4th quarter worth $27,000. Access Investment Management LLC acquired a new stake in shares of Best Buy in the fourth quarter valued at about $27,000. Finally, Stonebridge Capital Advisors LLC increased its stake in shares of Best Buy by 81.9% in the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 185 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on BBY shares. The Goldman Sachs Group increased their target price on Best Buy from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, March 1st. DA Davidson boosted their target price on shares of Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised shares of Best Buy from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $89.00 to $101.00 in a research report on Friday, March 22nd. Finally, Barclays increased their target price on shares of Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Best Buy currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.47.

Get Our Latest Research Report on BBY

Insiders Place Their Bets

In related news, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the transaction, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,364,165,342.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,052,023 shares of company stock valued at $170,313,900. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Stock Down 0.9 %

Shares of NYSE:BBY opened at $87.13 on Tuesday. The company’s fifty day moving average is $76.94 and its 200-day moving average is $76.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $89.00. The company has a market capitalization of $18.85 billion, a PE ratio of 15.26, a P/E/G ratio of 2.84 and a beta of 1.49.

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, beating analysts’ consensus estimates of $1.08 by $0.12. The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.96 billion. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 earnings per share. Equities research analysts predict that Best Buy Co., Inc. will post 6.11 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th will be given a $0.94 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $3.76 annualized dividend and a yield of 4.32%. Best Buy’s payout ratio is 65.85%.

Best Buy 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.

Recommended Stories

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.