Blackhawk Capital Partners LLC. Makes New Investment in Best Buy Co., Inc. (NYSE:BBY)

Blackhawk Capital Partners LLC. bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,385 shares of the technology retailer’s stock, valued at approximately $1,574,000.

Other large investors also recently bought and sold shares of the company. Pinnacle Bancorp Inc. grew its position in Best Buy by 108.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 178 shares during the last quarter. Rakuten Securities Inc. grew its position in Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in shares of Best Buy in the 4th quarter valued at $31,000. Atlas Capital Advisors Inc. boosted its holdings in shares of Best Buy by 186.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock valued at $32,000 after acquiring an additional 243 shares during the last quarter. Finally, Ancora Advisors LLC boosted its holdings in shares of Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock valued at $32,000 after acquiring an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of BBY stock opened at $70.60 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32. The firm’s 50-day moving average is $69.96 and its two-hundred day moving average is $75.42. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71. The company has a market capitalization of $14.92 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.06. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. Best Buy’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. Analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Wednesday, June 18th. Best Buy’s dividend payout ratio (DPR) is presently 92.91%.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 729,201 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the transaction, the chairman owned 196,100 shares of the company’s stock, valued at approximately $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.59% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a report on Tuesday, June 10th. Piper Sandler dropped their price objective on shares of Best Buy from $92.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Wedbush dropped their price objective on shares of Best Buy from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. UBS Group dropped their price objective on shares of Best Buy from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.11.

Best Buy Company 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.