Best Buy Co., Inc. (NYSE:BBY) Shares Bought by True Wealth Design LLC

True Wealth Design LLC raised its position in Best Buy Co., Inc. (NYSE:BBYFree Report) by 7.9% in the 4th quarter, Holdings Channel reports. The fund owned 10,456 shares of the technology retailer’s stock after acquiring an additional 763 shares during the period. True Wealth Design LLC’s holdings in Best Buy were worth $818,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BBY. Cerity Partners LLC boosted its stake in shares of Best Buy by 8.4% in the fourth quarter. Cerity Partners LLC now owns 103,459 shares of the technology retailer’s stock valued at $8,100,000 after buying an additional 8,042 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Best Buy during the 4th quarter worth $317,000. Mirabella Financial Services LLP acquired a new position in shares of Best Buy during the 3rd quarter worth $831,000. Private Advisor Group LLC acquired a new stake in shares of Best Buy in the fourth quarter valued at about $328,000. Finally, Principal Securities Inc. purchased a new stake in Best Buy during the fourth quarter worth about $341,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the sale, the chief executive officer now owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Best Buy news, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was 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 directly owns 15,890,103 shares in the company, valued at approximately $1,364,165,342.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,052,023 shares of company stock valued at $170,313,900. Company insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. DA Davidson lifted their price target on shares of Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Citigroup raised Best Buy from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $100.00 in a report on Monday, June 3rd. Evercore ISI upped their target price on Best Buy from $80.00 to $90.00 and gave the company an “in-line” rating in a report on Friday, May 31st. Wedbush reaffirmed a “neutral” rating and set a $85.00 price target on shares of Best Buy in a research note on Tuesday, May 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.47.

View Our Latest Research Report on BBY

Best Buy Trading Down 0.0 %

Shares of NYSE:BBY traded down $0.02 during trading on Tuesday, reaching $87.14. The stock had a trading volume of 2,329,824 shares, compared to its average volume of 3,112,517. The company has a quick ratio of 0.33, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. The stock has a market cap of $18.85 billion, a P/E ratio of 15.26, a PEG ratio of 2.84 and a beta of 1.49. The business has a fifty day moving average price of $77.07 and a 200-day moving average price of $76.32. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $89.00.

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

Best Buy Dividend Announcement

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

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

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