Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 52,648 shares of the technology retailer’s stock after selling 1,832 shares during the quarter. Cetera Investment Advisers’ holdings in Best Buy were worth $4,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tobam lifted its holdings in shares of Best Buy by 15.6% in the 2nd quarter. Tobam now owns 895 shares of the technology retailer’s stock valued at $75,000 after buying an additional 121 shares during the period. LVW Advisors LLC lifted its holdings in shares of Best Buy by 2.3% in the 2nd quarter. LVW Advisors LLC now owns 5,716 shares of the technology retailer’s stock valued at $482,000 after buying an additional 130 shares during the period. Rise Advisors LLC lifted its holdings in shares of Best Buy by 69.5% in the 1st quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after buying an additional 132 shares during the period. MCF Advisors LLC increased its stake in shares of Best Buy by 2.7% in the 1st quarter. MCF Advisors LLC now owns 5,087 shares of the technology retailer’s stock valued at $422,000 after purchasing an additional 134 shares in the last quarter. Finally, Continuum Advisory LLC increased its stake in shares of Best Buy by 34.7% in the 2nd quarter. Continuum Advisory LLC now owns 578 shares of the technology retailer’s stock valued at $49,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Up 0.3 %

BBY opened at $98.64 on Thursday. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $103.71. The stock has a market capitalization of $21.28 billion, a PE ratio of 17.27, a P/E/G ratio of 2.56 and a beta of 1.46. The business’s 50 day moving average price is $93.05 and its 200 day moving average price is $85.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the transaction, the chairman now directly owns 13,602,853 shares in the company, valued at $1,200,451,777.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Best Buy news, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the transaction, the chairman now directly owns 13,602,853 shares in the company, valued at $1,200,451,777.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 691,328 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares in the company, valued at $1,319,073,501.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,379,870 shares of company stock worth $121,942,706 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BBY shares. StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Thursday. BNP Paribas upgraded Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Melius Research assumed coverage on Best Buy in a research note on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective for the company. Finally, UBS Group boosted their price objective on Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Best Buy currently has a consensus rating of “Moderate Buy” and an average price target of $102.41.

Best Buy Profile

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.