Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Seed Wealth Management Inc.

Seed Wealth Management Inc. decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,890 shares of the technology retailer’s stock after selling 210 shares during the quarter. Seed Wealth Management Inc.’s holdings in Best Buy were worth $318,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BBY. Bridgewater Associates LP increased its holdings in Best Buy by 34.9% during the 4th quarter. Bridgewater Associates LP now owns 195,156 shares of the technology retailer’s stock worth $15,277,000 after purchasing an additional 50,438 shares during the last quarter. Cerity Partners LLC raised its holdings in Best Buy by 8.4% in the fourth quarter. Cerity Partners LLC now owns 103,459 shares of the technology retailer’s stock valued at $8,100,000 after acquiring an additional 8,042 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in Best Buy during the 4th quarter valued at $317,000. Private Advisor Group LLC acquired a new position in Best Buy during the 4th quarter worth $328,000. Finally, Principal Securities Inc. bought a new stake in shares of Best Buy in the 4th quarter worth about $341,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Trading Up 0.1 %

Shares of BBY traded up $0.08 during midday trading on Thursday, hitting $84.34. The stock had a trading volume of 2,392,214 shares, compared to its average volume of 3,180,963. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $93.72. The business has a 50-day simple moving average of $79.41 and a two-hundred day simple moving average of $77.57. The firm has a market cap of $18.19 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 2.79 and a beta of 1.49. The company has a current ratio of 1.01, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, May 30th. The technology retailer reported $1.20 EPS for the quarter, topping the consensus estimate of $1.08 by $0.12. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.96 billion. During the same period last year, the company posted $1.15 earnings per share. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.11 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, June 20th. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group decreased their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Barclays boosted their price target on Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. TheStreet upgraded Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Citigroup raised shares of Best Buy from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $100.00 in a report on Monday, June 3rd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $95.00 price target on shares of Best Buy in a research report on Thursday, May 30th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Best Buy has an average rating of “Moderate Buy” and a consensus target price of $90.87.

Insider Transactions at Best Buy

In other news, Chairman Richard M. Schulze sold 1,000,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $80.21, for a total transaction of $80,210,000.00. Following the transaction, the chairman now owns 8,850 shares in the company, valued at approximately $709,858.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Richard M. Schulze sold 1,000,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $80.21, for a total transaction of $80,210,000.00. Following the transaction, the chairman now owns 8,850 shares of the company’s stock, valued at approximately $709,858.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 3,520 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total value of $290,153.60. Following the completion of the sale, the chief accounting officer now owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The disclosure for this sale can be found here. Insiders sold 2,004,149 shares of company stock valued at $166,397,807 over the last three months. 0.59% of the stock is owned by corporate 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.