Wealth Enhancement Advisory Services LLC Grows Holdings in Best Buy Co., Inc. (NYSE:BBY)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 184,352 shares of the technology retailer's stock after buying an additional 11,546 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.09% of Best Buy worth $13,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in shares of Best Buy by 5.2% during the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer's stock valued at $218,000 after acquiring an additional 125 shares during the period. Mariner LLC boosted its position in Best Buy by 0.3% during the fourth quarter. Mariner LLC now owns 43,215 shares of the technology retailer's stock worth $3,708,000 after purchasing an additional 129 shares in the last quarter. LRI Investments LLC grew its holdings in Best Buy by 36.3% in the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after purchasing an additional 141 shares during the period. Rothschild Investment LLC increased its position in shares of Best Buy by 19.7% in the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer's stock valued at $74,000 after buying an additional 142 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in shares of Best Buy by 5.0% during the 4th quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer's stock worth $258,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Trading Up 0.7%

NYSE BBY traded up $0.45 on Thursday, reaching $68.45. 2,148,089 shares of the company were exchanged, compared to its average volume of 3,315,964. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The business's fifty day moving average price is $69.03 and its 200 day moving average price is $76.52. The stock has a market capitalization of $14.47 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.80 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.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, topping the consensus estimate of $1.09 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The company's quarterly revenue was down .9% compared to the same quarter last year. Analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be issued a $0.95 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $3.80 annualized dividend and a yield of 5.55%. Best Buy's payout ratio is 92.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped 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. Guggenheim reaffirmed a "buy" rating and set a $90.00 price objective on shares of Best Buy in a report on Tuesday, June 10th. Evercore ISI cut their target price on shares of 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. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Best Buy in a research note on Friday, May 30th. Finally, Bank of America lowered 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $86.11.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of Best Buy stock in a transaction on Monday, June 9th. The stock was sold at an average price of $72.95, for a total value of $53,195,212.95. Following the sale, the chairman now owns 196,100 shares in the company, valued at $14,305,495. The trade was a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

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.