Russell Investments Group Ltd. cut its position in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,990 shares of the technology retailer’s stock after selling 1,955 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Best Buy worth $18,932,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Best Buy in the fourth quarter worth $26,000. Arlington Partners LLC purchased a new stake in shares of Best Buy in the first quarter worth $28,000. CoreCap Advisors LLC bought a new position in shares of Best Buy during the fourth quarter valued at $39,000. Clearstead Advisors LLC lifted its holdings in shares of Best Buy by 30.5% during the third quarter. Clearstead Advisors LLC now owns 724 shares of the technology retailer’s stock valued at $46,000 after purchasing an additional 169 shares in the last quarter. Finally, US Asset Management LLC bought a new position in shares of Best Buy during the fourth quarter valued at $52,000. 77.44% of the stock is currently owned by institutional investors.
Best Buy Trading Down 0.1 %
Shares of Best Buy stock opened at $79.18 on Tuesday. The firm has a market capitalization of $17.28 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.15 and a beta of 1.53. Best Buy Co., Inc. has a fifty-two week low of $60.78 and a fifty-two week high of $93.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.32 and a current ratio of 0.98. The stock has a 50 day moving average of $80.46 and a 200 day moving average of $78.68.
Best Buy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Wednesday, June 14th. Best Buy’s payout ratio is 62.27%.
Insider Buying and Selling
In related news, Chairman Richard M. Schulze sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.24, for a total transaction of $8,524,000.00. Following the transaction, the chairman now owns 349,448 shares of the company’s stock, valued at $29,786,947.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Richard M. Schulze sold 250,000 shares of Best Buy stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $82.90, for a total transaction of $20,725,000.00. Following the completion of the sale, the chairman now directly owns 390,148 shares in the company, valued at approximately $32,343,269.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 100,000 shares of Best Buy stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.24, for a total transaction of $8,524,000.00. Following the sale, the chairman now owns 349,448 shares of the company’s stock, valued at $29,786,947.52. The disclosure for this sale can be found here. Insiders have sold a total of 408,034 shares of company stock valued at $33,741,133 over the last quarter. 0.56% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. SpectralCast reissued a “maintains” rating on shares of Best Buy in a report on Friday, May 26th. DA Davidson decreased their price objective on Best Buy from $96.00 to $87.00 and set a “buy” rating on the stock in a research note on Friday, May 26th. Credit Suisse Group decreased their price objective on Best Buy from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. 58.com reaffirmed a “maintains” rating on shares of Best Buy in a research note on Thursday, May 11th. Finally, StockNews.com raised Best Buy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.07.
Get Our Latest Stock Analysis on Best Buy
About Best Buy
Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment includes operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.
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