Disciplined Equity Management Inc. Buys 250 Shares of Best Buy Co., Inc. (NYSE:BBY)

Disciplined Equity Management Inc. grew its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,343 shares of the technology retailer’s stock after acquiring an additional 250 shares during the period. Best Buy comprises 0.8% of Disciplined Equity Management Inc.’s portfolio, making the stock its 17th biggest holding. Disciplined Equity Management Inc.’s holdings in Best Buy were worth $1,259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBY. PrairieView Partners LLC lifted its stake in Best Buy by 67.1% in the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after purchasing an additional 151 shares in the last quarter. WBI Investments LLC increased its holdings in shares of Best Buy by 3.5% in the first quarter. WBI Investments LLC now owns 36,872 shares of the technology retailer’s stock worth $3,025,000 after purchasing an additional 1,262 shares during the period. Commonwealth Retirement Investments LLC raised its position in shares of Best Buy by 2.2% in the first quarter. Commonwealth Retirement Investments LLC now owns 35,867 shares of the technology retailer’s stock worth $2,942,000 after buying an additional 758 shares in the last quarter. Larson Financial Group LLC boosted its stake in Best Buy by 94.1% during the first quarter. Larson Financial Group LLC now owns 3,235 shares of the technology retailer’s stock valued at $265,000 after buying an additional 1,568 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in Best Buy by 14.5% during the first quarter. Rehmann Capital Advisory Group now owns 9,508 shares of the technology retailer’s stock worth $780,000 after buying an additional 1,204 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Up 0.5 %

Shares of NYSE BBY traded up $0.44 during mid-day trading on Thursday, hitting $86.01. The stock had a trading volume of 2,730,261 shares, compared to its average volume of 3,184,868. The business has a 50 day moving average price of $81.21 and a two-hundred day moving average price of $78.14. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $93.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01. The firm has a market cap of $18.55 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 2.76 and a beta of 1.48.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, May 30th. The technology retailer reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.96 billion. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 earnings per share. On average, equities analysts anticipate that Best Buy Co., Inc. will post 6.11 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $3.76 annualized dividend and a dividend yield of 4.37%. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

Insider Activity at Best Buy

In other news, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the sale, the chief executive officer now owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jason J. Bonfig sold 3,500 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $83.02, for a total transaction of $290,570.00. Following the sale, the executive vice president now owns 50,714 shares in the company, valued at approximately $4,210,276.28. The disclosure for this sale can be found here. Insiders sold a total of 2,004,129 shares of company stock worth $166,398,223 over the last quarter. 0.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Evercore ISI lifted their price target on Best Buy from $80.00 to $90.00 and gave the company an “in-line” rating in a research report on Friday, May 31st. Loop Capital boosted their price target on shares of Best Buy from $93.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $89.00 to $101.00 in a research report on Friday, March 22nd. UBS Group upgraded shares of Best Buy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $106.00 in a research report on Monday, June 17th. Finally, Wedbush restated a “neutral” rating and set a $85.00 price target on shares of Best Buy in a research report on Tuesday, May 28th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.87.

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.