LVW Advisors LLC Purchases 130 Shares of Best Buy Co., Inc. (NYSE:BBY)

LVW Advisors LLC raised its position in Best Buy Co., Inc. (NYSE:BBY) by 2.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,716 shares of the technology retailer’s stock after acquiring an additional 130 shares during the period. LVW Advisors LLC’s holdings in Best Buy were worth $482,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Bfsg LLC acquired a new stake in shares of Best Buy during the fourth quarter worth $25,000. Rise Advisors LLC grew its holdings in shares of Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after purchasing an additional 132 shares during the last quarter. Palisade Asset Management LLC bought a new stake in Best Buy in the first quarter valued at approximately $27,000. Naples Money Management LLC bought a new stake in Best Buy in the fourth quarter valued at approximately $27,000. Finally, Access Investment Management LLC acquired a new position in Best Buy in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the sale, the executive vice president now directly owns 50,714 shares of the company’s stock, valued at approximately $4,210,276.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,210,276.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, the chairman now directly 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. Insiders sold a total of 3,383,370 shares of company stock worth $288,293,276 over the last quarter. 0.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Evercore ISI boosted their price target on Best Buy from $80.00 to $90.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. DA Davidson lifted their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, May 31st. Telsey Advisory Group reiterated an “outperform” rating and set a $95.00 price target on shares of Best Buy in a research report on Thursday, May 30th. Wedbush restated a “neutral” rating and issued a $85.00 target price on shares of Best Buy in a research report on Tuesday, May 28th. Finally, Loop Capital boosted their price objective on Best Buy from $93.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.87.

Best Buy Stock Performance

Shares of NYSE:BBY traded up $1.11 during midday trading on Tuesday, reaching $82.31. 318,016 shares of the company’s stock traded hands, compared to its average volume of 3,107,200. The company has a market cap of $17.76 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 2.76 and a beta of 1.48. 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 one year low of $62.30 and a one year high of $93.72. The stock has a 50 day moving average of $86.29 and a 200 day moving average of $79.87.

Best Buy (NYSE:BBY) last posted its 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 company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.96 billion. During the same quarter in the prior year, the company earned $1.15 earnings per share. Best Buy’s revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.11 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, June 20th. Best Buy’s payout ratio is 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.