Impact Capital Partners LLC Takes $415,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Impact Capital Partners LLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,636 shares of the technology retailer's stock, valued at approximately $415,000.

Other large investors have also recently made changes to their positions in the company. Stevens Capital Management LP increased its position in shares of Best Buy by 228.7% during the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer's stock valued at $1,941,000 after purchasing an additional 15,741 shares during the last quarter. Invesco Ltd. grew its stake 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 worth $316,784,000 after acquiring an additional 629,180 shares during the period. Vanguard Group Inc. grew its stake in shares of Best Buy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock worth $1,971,908,000 after acquiring an additional 191,161 shares during the period. Pinnacle Financial Partners Inc bought a new position in shares of Best Buy during the 4th quarter worth $3,293,000. Finally, APG Asset Management N.V. bought a new position in shares of Best Buy during the 4th quarter worth $9,073,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BBY. Morgan Stanley dropped their price objective on Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Loop Capital decreased their price objective on Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Bank of America decreased their price objective on Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a report on Wednesday, March 5th. Wedbush reduced their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, Jefferies Financial Group reduced their price target on Best Buy from $106.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $86.11.

Best Buy Price Performance

Shares of BBY stock opened at $73.03 on Friday. The firm has a market cap of $15.46 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.10 and a beta of 1.25. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The business's 50 day moving average price is $66.87 and its 200-day moving average price is $78.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.06. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

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

Insider Activity

In other news, insider Todd G. Hartman sold 4,893 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $355,476.45. Following the completion of the transaction, the insider now owns 32,320 shares in the company, valued at $2,348,048. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew M. Bilunas sold 51,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the completion of the transaction, the chief financial officer now owns 55,856 shares of the company's stock, valued at approximately $4,144,515.20. The trade was a 47.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,355 shares of company stock worth $5,767,213 in the last quarter. 0.59% of the stock is owned by company insiders.

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.

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