3,110 Shares in Best Buy Co., Inc. (NYSE:BBY) Bought by Stonebridge Capital Advisors LLC

Stonebridge Capital Advisors LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,110 shares of the technology retailer’s stock, valued at approximately $255,000.

Several other large investors have also recently added to or reduced their stakes in BBY. AMF Tjanstepension AB bought a new stake in Best Buy in the first quarter valued at $8,676,000. Bridgewater Associates LP lifted its stake in Best Buy by 34.9% in the fourth quarter. Bridgewater Associates LP now owns 195,156 shares of the technology retailer’s stock valued at $15,277,000 after buying an additional 50,438 shares during the last quarter. Cerity Partners LLC lifted its stake 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 buying an additional 8,042 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in Best Buy in the fourth quarter valued at $317,000. Finally, Private Advisor Group LLC bought a new stake in Best Buy in the fourth quarter valued at $328,000. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Performance

Shares of NYSE:BBY remained flat at $87.35 during midday trading on Friday. The company had a trading volume of 1,734,759 shares, compared to its average volume of 2,898,491. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $93.72. The company has a market capitalization of $18.84 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 2.82 and a beta of 1.48. The company has a fifty day simple moving average of $84.52 and a two-hundred day simple moving average of $79.02.

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

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th were given a dividend of $0.94 per share. The ex-dividend date was Thursday, June 20th. This represents a $3.76 dividend on an annualized basis and a yield of 4.30%. Best Buy’s payout ratio is presently 65.85%.

Insiders Place Their Bets

In other Best Buy news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $83.02, for a total transaction of $290,570.00. Following the completion of the sale, the executive vice president now directly owns 50,714 shares in the company, valued at approximately $4,210,276.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Jason J. Bonfig sold 3,500 shares of Best Buy stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $83.02, for a total transaction of $290,570.00. Following the completion of the sale, the executive vice president now directly owns 50,714 shares in the company, valued at approximately $4,210,276.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 691,328 shares of Best Buy stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, the chairman now owns 14,911,525 shares of the company’s stock, valued at $1,319,073,501.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,383,370 shares of company stock worth $288,293,276. 0.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. DA Davidson raised their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Citigroup raised Best Buy from a “sell” rating to a “buy” rating and raised their price target for the company from $67.00 to $100.00 in a report on Monday, June 3rd. UBS Group raised Best Buy from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $106.00 in a report on Monday, June 17th. Telsey Advisory Group reissued an “outperform” rating and set a $95.00 price target on shares of Best Buy in a report on Thursday, May 30th. Finally, Loop Capital raised their price target on Best Buy from $93.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 7th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.87.

About Best Buy

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.