Donaldson Capital Management LLC Buys 662 Shares of Best Buy Co., Inc. (NYSE:BBY)

Donaldson Capital Management LLC raised its stake in Best Buy Co., Inc. (NYSE:BBY) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,988 shares of the technology retailer’s stock after purchasing an additional 662 shares during the quarter. Donaldson Capital Management LLC’s holdings in Best Buy were worth $735,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. raised its holdings in shares of Best Buy by 971.9% in the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock valued at $29,000 after purchasing an additional 311 shares during the period. Vermillion Wealth Management Inc. bought a new stake in shares of Best Buy in the 4th quarter valued at about $31,000. Golden State Wealth Management LLC bought a new stake in shares of Best Buy in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. raised its holdings in shares of Best Buy by 186.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock valued at $32,000 after purchasing an additional 243 shares during the period. Finally, Ancora Advisors LLC raised its holdings in shares of Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock valued at $32,000 after purchasing an additional 374 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Performance

Shares of NYSE:BBY opened at $72.63 on Thursday. The company’s 50 day moving average price is $67.31 and its two-hundred day moving average price is $77.95. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71. The firm has a market cap of $15.37 billion, a PE ratio of 12.42, a PEG ratio of 2.10 and a beta of 1.25. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.06. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The business’s revenue was down .9% compared to the same quarter last year. Equities research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be given a dividend of $0.95 per share. The ex-dividend date is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.23%. Best Buy’s payout ratio is presently 92.91%.

Wall Street Analyst Weigh In

BBY has been the topic of a number of research analyst reports. BNP Paribas raised shares of Best Buy to a “hold” rating in a report on Friday, May 30th. Wedbush dropped their target price on shares of Best Buy from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Morgan Stanley dropped their target price on shares of Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. DA Davidson reaffirmed a “buy” rating and issued a $110.00 target price on shares of Best Buy in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Best Buy presently has an average rating of “Hold” and an average target price of $86.11.

Insiders Place Their Bets

In related news, CAO Mathew Watson sold 3,182 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.29, for a total transaction of $226,844.78. Following the sale, the chief accounting officer now owns 19,218 shares in the company, valued at approximately $1,370,051.22. This trade represents a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Todd G. Hartman sold 4,893 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the sale, the insider now owns 32,320 shares in the company, valued at $2,348,048. This represents a 13.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 807,556 shares of company stock worth $58,962,426 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

Best Buy 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.