Thompson Siegel & Walmsley LLC Has $7.76 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Thompson Siegel & Walmsley LLC increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 136.8% in the second quarter, Holdings Channel.com reports. The firm owned 92,100 shares of the technology retailer’s stock after purchasing an additional 53,200 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Best Buy were worth $7,763,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tobam boosted its position in shares of Best Buy by 15.6% during the second quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after buying an additional 121 shares during the period. LVW Advisors LLC boosted its position in Best Buy by 2.3% during the 2nd quarter. LVW Advisors LLC now owns 5,716 shares of the technology retailer’s stock worth $482,000 after acquiring an additional 130 shares during the last quarter. Rise Advisors LLC grew its stake in shares of Best Buy by 69.5% during the 1st quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after acquiring an additional 132 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Best Buy by 2.7% in the first quarter. MCF Advisors LLC now owns 5,087 shares of the technology retailer’s stock valued at $422,000 after purchasing an additional 134 shares during the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Best Buy by 34.7% in the second quarter. Continuum Advisory LLC now owns 578 shares of the technology retailer’s stock worth $49,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BBY shares. Piper Sandler reiterated an “overweight” rating and issued a $114.00 price target (up from $100.00) on shares of Best Buy in a research note on Friday, August 30th. Barclays lifted their target price on Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. UBS Group increased their price target on Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Loop Capital boosted their price target on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, BNP Paribas upgraded Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.56.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, the chairman now directly owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the sale, the chairman now owns 14,911,525 shares of the company’s stock, valued at approximately $1,319,073,501.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 88,542 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total value of $7,813,831.50. Following the sale, the chairman now owns 13,602,853 shares in the company, valued at approximately $1,200,451,777.25. The disclosure for this sale can be found here. Insiders have sold a total of 1,383,370 shares of company stock worth $122,233,276 over the last 90 days. Insiders own 0.59% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $98.45 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $21.24 billion, a PE ratio of 17.24, a PEG ratio of 2.56 and a beta of 1.46. The firm has a 50 day moving average of $88.88 and a 200-day moving average of $82.82. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.26 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.82%. The ex-dividend date is Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

About Best Buy

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.