Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by International Private Wealth Advisors LLC

International Private Wealth Advisors LLC grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,565 shares of the technology retailer’s stock after purchasing an additional 289 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Best Buy were worth $262,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Rakuten Securities Inc. increased its stake in shares of Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock valued at $29,000 after purchasing an additional 311 shares during the period. Vermillion Wealth Management Inc. bought a new position in Best Buy in the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC acquired a new stake in Best Buy in the 4th quarter valued at approximately $32,000. Atlas Capital Advisors Inc. boosted its position in Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 243 shares during the period. Finally, Ancora Advisors LLC grew its stake in shares of Best Buy by 18,700.0% in the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 374 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BBY shares. Telsey Advisory Group restated an “outperform” rating and set a $90.00 price objective on shares of Best Buy in a research note on Friday, May 30th. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 5th. Bank of America cut their target price on Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Guggenheim reiterated a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, May 30th. Finally, Wedbush dropped their price objective on Best Buy from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.11.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 51,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the completion of the sale, the chief financial officer now directly owns 55,856 shares of the company’s stock, valued at $4,144,515.20. This represents a 47.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Corie S. Barry acquired 13,500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the transaction, the chief executive officer now directly owns 378,780 shares of the company’s stock, valued at $27,620,637.60. This represents a 3.70% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 78,355 shares of company stock worth $5,767,213. 0.47% of the stock is owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY opened at $73.03 on Monday. The company has a 50-day moving average of $66.87 and a two-hundred day moving average of $78.12. The stock has a market cap of $15.46 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.10 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, beating the consensus estimate of $1.09 by $0.06. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.77 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.20%. Best Buy’s dividend payout ratio is 92.91%.

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.