Banco de Sabadell S.A purchased a new stake in Best Buy Co Inc (NYSE:BBY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,400 shares of the technology retailer’s stock, valued at approximately $508,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Freestone Capital Holdings LLC raised its holdings in Best Buy by 1.0% in the first quarter. Freestone Capital Holdings LLC now owns 92,136 shares of the technology retailer’s stock valued at $6,449,000 after acquiring an additional 869 shares in the last quarter. Mariner LLC raised its holdings in Best Buy by 25.6% in the first quarter. Mariner LLC now owns 4,278 shares of the technology retailer’s stock valued at $299,000 after acquiring an additional 873 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in Best Buy by 21.9% in the first quarter. Cullen Frost Bankers Inc. now owns 4,868 shares of the technology retailer’s stock valued at $341,000 after acquiring an additional 874 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in Best Buy by 3.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 25,521 shares of the technology retailer’s stock valued at $1,747,000 after acquiring an additional 900 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Best Buy by 5.6% in the first quarter. Van ECK Associates Corp now owns 17,190 shares of the technology retailer’s stock valued at $1,203,000 after acquiring an additional 906 shares in the last quarter. 88.29% of the stock is currently owned by hedge funds and other institutional investors.
Get Best Buy alerts:Several analysts recently issued reports on BBY shares. Piper Jaffray Companies upped their price target on shares of Best Buy from $68.00 to $83.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Zacks Investment Research cut shares of Best Buy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 14th. Wedbush reaffirmed a “sell” rating and issued a $38.00 price target on shares of Best Buy in a report on Monday, February 26th. Loop Capital raised shares of Best Buy to a “buy” rating in a report on Thursday, March 1st. Finally, Bank of America boosted their target price on shares of Best Buy from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Best Buy currently has an average rating of “Hold” and a consensus target price of $72.41.
Best Buy stock opened at $77.06 on Tuesday. The stock has a market cap of $20.90 billion, a PE ratio of 17.43, a PEG ratio of 1.23 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.56. Best Buy Co Inc has a one year low of $51.61 and a one year high of $79.90.
Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 24th. The technology retailer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.75 billion. Best Buy had a net margin of 2.39% and a return on equity of 36.16%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. equities research analysts predict that Best Buy Co Inc will post 5.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Thursday, June 14th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 2.34%. Best Buy’s dividend payout ratio is currently 40.72%.
In other news, insider Asheesh Saksena sold 18,570 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $73.69, for a total transaction of $1,368,423.30. Following the completion of the transaction, the insider now owns 77,478 shares in the company, valued at $5,709,353.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patricia H. Walker sold 8,854 shares of the company’s stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $73.63, for a total transaction of $651,920.02. Following the transaction, the insider now owns 26,698 shares of the company’s stock, valued at approximately $1,965,773.74. The disclosure for this sale can be found here. Insiders have sold 31,999 shares of company stock valued at $2,344,505 in the last 90 days. Insiders own 0.75% of the company’s stock.
Best Buy Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.
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