Disciplined Equity Management Inc. Raises Stake in Best Buy Co., Inc. (NYSE:BBY)

Disciplined Equity Management Inc. boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,733 shares of the technology retailer’s stock after buying an additional 730 shares during the period. Best Buy makes up approximately 0.8% of Disciplined Equity Management Inc.’s investment portfolio, making the stock its 19th largest holding. Disciplined Equity Management Inc.’s holdings in Best Buy were worth $1,158,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Best Buy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer’s stock valued at $1,971,908,000 after acquiring an additional 191,161 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Best Buy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer’s stock valued at $562,880,000 after acquiring an additional 395,415 shares during the period. Raymond James Financial Inc. acquired a new position in Best Buy in the fourth quarter valued at approximately $514,483,000. Geode Capital Management LLC lifted its holdings in Best Buy by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer’s stock valued at $436,210,000 after acquiring an additional 239,840 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Best Buy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock valued at $328,136,000 after acquiring an additional 459,353 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BBY. BNP Paribas raised Best Buy to a “hold” rating in a report on Friday, May 30th. Evercore ISI reduced their target price on Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. Wells Fargo & Company reduced their target price on Best Buy from $75.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. Morgan Stanley reduced their target price on Best Buy from $100.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Finally, Bank of America reduced their target price on Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Best Buy presently has an average rating of “Hold” and an average target price of $86.11.

Best Buy Stock Up 3.6%

Shares of NYSE:BBY opened at $73.03 on Friday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $66.87 and a two-hundred day moving average of $78.18. The stock has a market cap of $15.46 billion, a P/E ratio of 12.48, a PEG ratio of 2.10 and a beta of 1.25. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.71.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.06. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.77 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Wednesday, June 18th. Best Buy’s dividend payout ratio is presently 92.91%.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 51,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the completion of the transaction, the chief financial officer now directly owns 55,856 shares in the company, valued at approximately $4,144,515.20. This represents a 47.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Corie S. Barry purchased 13,500 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. This trade represents a 3.70% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 78,355 shares of company stock worth $5,767,213. 0.59% of the stock is currently owned by company insiders.

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.