Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by AE Wealth Management LLC

AE Wealth Management LLC boosted its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,875 shares of the technology retailer's stock after acquiring an additional 22,530 shares during the period. AE Wealth Management LLC owned 0.07% of Best Buy worth $11,106,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Best Buy by 20.5% during the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after purchasing an additional 629,180 shares during the last quarter. Vanguard Group Inc. grew its holdings in Best Buy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock valued at $1,971,908,000 after buying an additional 191,161 shares in the last quarter. APG Asset Management N.V. purchased a new position in Best Buy during the fourth quarter valued at $9,073,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Best Buy by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer's stock worth $14,560,000 after acquiring an additional 13,378 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Best Buy by 5,519.3% during the 1st quarter. GAMMA Investing LLC now owns 173,131 shares of the technology retailer's stock valued at $12,744,000 after purchasing an additional 170,050 shares during the period. Institutional investors own 80.96% of the company's stock.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares of the company's stock, valued at $14,305,495. This represents a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Best Buy Trading Up 0.2%

Shares of BBY traded up $0.10 during mid-day trading on Friday, reaching $67.39. The stock had a trading volume of 2,553,408 shares, compared to its average volume of 3,523,930. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.71. The business's fifty day moving average is $69.82 and its 200 day moving average is $73.95. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.78 and a beta of 1.24.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.06. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Best Buy's quarterly revenue was down .9% on a year-over-year basis. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th were given a $0.95 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.64%. Best Buy's payout ratio is currently 92.91%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BBY. Piper Sandler reiterated a "neutral" rating and issued a $75.00 target price (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Telsey Advisory Group restated an "outperform" rating and set a $90.00 price objective on shares of Best Buy in a research note on Friday, May 30th. UBS Group decreased their price objective on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Wedbush decreased their price objective on shares of Best Buy from $75.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, Wells Fargo & Company decreased their target price on shares of 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. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Best Buy currently has an average rating of "Hold" and a consensus target price of $85.72.

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.