2,373 Shares in Best Buy Co., Inc. (NYSE:BBY) Bought by Clarius Group LLC

Clarius Group LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,373 shares of the technology retailer’s stock, valued at approximately $245,000.

Several other large investors have also bought and sold shares of BBY. Rise Advisors LLC raised its holdings in shares of Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after purchasing an additional 132 shares during the last quarter. Palisade Asset Management LLC bought a new stake in Best Buy in the 1st quarter worth about $27,000. Richardson Financial Services Inc. increased its stake in Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after buying an additional 210 shares during the last quarter. PrairieView Partners LLC lifted its position in shares of Best Buy by 67.1% during the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after buying an additional 151 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Best Buy in the 2nd quarter worth approximately $35,000. 80.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BBY. Melius Research initiated coverage on Best Buy in a report on Monday, September 23rd. They set a “hold” rating and a $100.00 price target on the stock. StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a research note on Thursday. Telsey Advisory Group boosted their price target on shares of Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Wells Fargo & Company raised their price objective on shares of Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, Evercore ISI boosted their target price on shares of Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.41.

Best Buy Price Performance

BBY stock opened at $97.44 on Friday. The firm has a 50 day moving average of $93.84 and a 200-day moving average of $85.67. The firm has a market capitalization of $20.92 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $103.71. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a $0.94 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 3.86%. Best Buy’s payout ratio is currently 64.83%.

Insider Activity

In related news, Chairman Richard M. Schulze sold 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total value of $52,974,000.00. Following the transaction, the chairman now directly owns 14,002,853 shares in the company, valued at approximately $1,236,311,891.37. 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 accessible through the SEC website. In other news, Chairman Richard M. Schulze sold 600,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total value of $52,974,000.00. Following the transaction, the chairman now owns 14,002,853 shares of the company’s stock, valued at $1,236,311,891.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 88,542 shares of Best Buy 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 sale, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at $1,200,451,777.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,379,870 shares of company stock worth $121,942,706. 0.59% of the stock is currently owned by insiders.

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.