Lido Advisors LLC purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,617 shares of the technology retailer’s stock, valued at approximately $296,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Baldwin Brothers LLC MA bought a new stake in Best Buy in the second quarter valued at approximately $25,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Best Buy in the first quarter valued at approximately $28,000. Clear Street Markets LLC boosted its holdings in Best Buy by 90.6% in the first quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 183 shares during the last quarter. Cambridge Trust Co. boosted its holdings in Best Buy by 3,900.0% in the first quarter. Cambridge Trust Co. now owns 400 shares of the technology retailer’s stock valued at $31,000 after acquiring an additional 390 shares during the last quarter. Finally, BOKF NA bought a new stake in Best Buy in the first quarter valued at approximately $33,000. 76.10% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
BBY has been the topic of several analyst reports. StockNews.com initiated coverage on Best Buy in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Telsey Advisory Group dropped their price target on Best Buy from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Friday. The Goldman Sachs Group raised Best Buy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $79.00 to $85.00 in a research note on Thursday, October 19th. Wedbush dropped their price target on Best Buy from $82.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. Finally, Wells Fargo & Company dropped their price target on Best Buy from $80.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Best Buy has a consensus rating of “Hold” and a consensus target price of $77.93.
Best Buy Stock Down 0.2 %
Shares of NYSE:BBY opened at $68.11 on Tuesday. The company has a market capitalization of $14.82 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.98 and a quick ratio of 0.31. The business has a fifty day moving average price of $68.44 and a two-hundred day moving average price of $74.28. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $93.32.
Best Buy (NYSE:BBY – Get Free Report) last announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.16. The firm had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.52 billion. Best Buy had a return on equity of 49.40% and a net margin of 2.91%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. Analysts forecast that Best Buy Co., Inc. will post 6.22 earnings per share for the current year.
Best Buy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $3.68 annualized dividend and a dividend yield of 5.40%. Best Buy’s payout ratio is 63.34%.
Insider Transactions at Best Buy
In other news, insider Todd G. Hartman sold 7,948 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $69.38, for a total transaction of $551,432.24. Following the completion of the transaction, the insider now owns 13,337 shares in the company, valued at approximately $925,321.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Todd G. Hartman sold 5,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $71.18, for a total transaction of $355,900.00. Following the sale, the insider now owns 21,285 shares of the company’s stock, valued at approximately $1,515,066.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd G. Hartman sold 7,948 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $69.38, for a total value of $551,432.24. Following the sale, the insider now directly owns 13,337 shares in the company, valued at approximately $925,321.06. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.
About Best Buy
Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.
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