Kestra Advisory Services LLC Purchases 895 Shares of Best Buy Co., Inc. (NYSE:BBY)

Kestra Advisory Services LLC grew its stake in Best Buy Co., Inc. (NYSE:BBYGet Rating) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,292 shares of the technology retailer’s stock after purchasing an additional 895 shares during the period. Kestra Advisory Services LLC’s holdings in Best Buy were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BBY. Private Advisor Group LLC grew its stake in shares of Best Buy by 29.2% in the 1st quarter. Private Advisor Group LLC now owns 5,547 shares of the technology retailer’s stock valued at $504,000 after purchasing an additional 1,252 shares during the period. Yousif Capital Management LLC grew its stake in shares of Best Buy by 1.1% in the 1st quarter. Yousif Capital Management LLC now owns 39,097 shares of the technology retailer’s stock valued at $3,554,000 after purchasing an additional 415 shares during the period. Aviva PLC grew its stake in shares of Best Buy by 31.1% in the 1st quarter. Aviva PLC now owns 105,369 shares of the technology retailer’s stock valued at $9,578,000 after purchasing an additional 24,977 shares during the period. Prudential PLC bought a new stake in shares of Best Buy in the 1st quarter valued at approximately $499,000. Finally, Cetera Investment Advisers grew its stake in shares of Best Buy by 6.3% in the 1st quarter. Cetera Investment Advisers now owns 5,144 shares of the technology retailer’s stock valued at $468,000 after purchasing an additional 305 shares during the period. 78.48% of the stock is currently owned by institutional investors.

Best Buy Stock Down 0.7 %

NYSE:BBY opened at $83.63 on Wednesday. The stock’s fifty day moving average price is $81.55 and its two-hundred day moving average price is $75.22. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 0.71 and a beta of 1.48. Best Buy Co., Inc. has a 52-week low of $60.78 and a 52-week high of $112.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.26 and a current ratio of 0.98.

Best Buy (NYSE:BBYGet Rating) last issued its earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 EPS for the quarter, beating the consensus estimate of $1.03 by $0.35. The company had revenue of $10.59 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Best Buy had a net margin of 3.23% and a return on equity of 57.26%. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 EPS. On average, analysts anticipate that Best Buy Co., Inc. will post 6.59 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Tuesday, December 13th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Monday, December 12th. Best Buy’s payout ratio is 52.69%.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 366,100 shares of the company’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $81.94, for a total transaction of $29,998,234.00. Following the completion of the sale, the chairman now owns 590,148 shares in the company, valued at approximately $48,356,727.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Richard M. Schulze sold 366,100 shares of the company’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $81.94, for a total value of $29,998,234.00. Following the completion of the sale, the chairman now owns 590,148 shares in the company, valued at approximately $48,356,727.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Damien Harmon sold 2,500 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $79.99, for a total transaction of $199,975.00. Following the completion of the sale, the executive vice president now owns 42,805 shares of the company’s stock, valued at approximately $3,423,971.95. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BBY. Telsey Advisory Group upped their price objective on Best Buy from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, November 23rd. Bank of America downgraded Best Buy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $69.00 in a report on Wednesday, December 14th. StockNews.com assumed coverage on Best Buy in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group raised Best Buy from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $59.00 to $83.00 in a report on Monday, December 12th. Finally, TheStreet raised Best Buy from a “c+” rating to a “b” rating in a report on Wednesday, December 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $82.71.

About Best Buy

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Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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