Best Buy Co., Inc. (NYSE:BBY) Stock Holdings Lifted by Saxon Interests Inc.

Saxon Interests Inc. raised its position in Best Buy Co., Inc. (NYSE:BBY) by 16.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,218 shares of the technology retailer’s stock after purchasing an additional 1,030 shares during the quarter. Saxon Interests Inc.’s holdings in Best Buy were worth $592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bfsg LLC purchased a new position in Best Buy in the fourth quarter valued at about $25,000. Rise Advisors LLC grew its stake in Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after purchasing an additional 132 shares in the last quarter. Naples Money Management LLC purchased a new position in Best Buy in the fourth quarter valued at about $27,000. Access Investment Management LLC purchased a new position in Best Buy in the fourth quarter valued at about $27,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of Best Buy by 549.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BBY. Telsey Advisory Group reiterated an “outperform” rating and set a $95.00 price target on shares of Best Buy in a research note on Thursday, May 30th. UBS Group upgraded Best Buy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $106.00 in a research note on Monday, June 17th. Evercore ISI upped their price target on Best Buy from $80.00 to $90.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. upgraded Best Buy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $89.00 to $101.00 in a research note on Friday, March 22nd. Finally, DA Davidson upped their price target on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.87.

Insider Transactions at Best Buy

In other news, CEO Corie S. Barry sold 366 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Corie S. Barry sold 366 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares in the company, valued at approximately $32,670,060.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $80.21, for a total value of $80,210,000.00. Following the sale, the chairman now owns 8,850 shares in the company, valued at $709,858.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,004,149 shares of company stock valued at $166,397,807. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Performance

Best Buy stock traded down $0.12 during trading hours on Tuesday, hitting $82.17. The stock had a trading volume of 3,074,486 shares, compared to its average volume of 3,179,124. The company has a 50-day moving average of $79.88 and a two-hundred day moving average of $77.79. The company has a quick ratio of 0.33, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. The company has a market cap of $17.72 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 2.72 and a beta of 1.48. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $93.72.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 30th. The technology retailer reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Best Buy had a return on equity of 47.56% and a net margin of 2.90%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.15 EPS. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.11 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th will be issued a $0.94 dividend. The ex-dividend date is Thursday, June 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.58%. Best Buy’s payout ratio is presently 65.85%.

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.