nVerses Capital LLC Has $152,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

nVerses Capital LLC boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 100.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,800 shares of the technology retailer’s stock after buying an additional 900 shares during the period. nVerses Capital LLC’s holdings in Best Buy were worth $152,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BBY. International Assets Investment Management LLC acquired a new position in shares of Best Buy during the 4th quarter worth approximately $5,760,000. Natixis Advisors L.P. lifted its holdings in shares of Best Buy by 23.3% during the 4th quarter. Natixis Advisors L.P. now owns 101,340 shares of the technology retailer’s stock worth $7,932,000 after acquiring an additional 19,119 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Best Buy during the 4th quarter worth approximately $434,000. Metis Global Partners LLC lifted its holdings in shares of Best Buy by 4.8% during the 4th quarter. Metis Global Partners LLC now owns 13,736 shares of the technology retailer’s stock worth $1,075,000 after acquiring an additional 631 shares during the period. Finally, Spire Wealth Management lifted its holdings in shares of Best Buy by 7.3% during the 4th quarter. Spire Wealth Management now owns 2,380 shares of the technology retailer’s stock worth $186,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other news, Chairman Richard M. Schulze sold 691,328 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the sale, the chairman now directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Best Buy news, EVP Jason J. Bonfig sold 3,500 shares of Best Buy stock in a transaction on Monday, July 8th. The shares were sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the sale, the executive vice president now directly owns 50,714 shares of the company’s stock, valued at $4,210,276.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 691,328 shares of Best Buy stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the sale, the chairman now directly owns 14,911,525 shares of the company’s stock, valued at $1,319,073,501.50. The disclosure for this sale can be found here. Insiders sold a total of 1,383,370 shares of company stock worth $122,233,276 over the last three months. 0.59% of the stock is owned by company insiders.

Best Buy Trading Up 0.2 %

Shares of NYSE BBY opened at $100.40 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $103.71. The firm has a 50 day moving average price of $86.16 and a two-hundred day moving average price of $81.37. The stock has a market cap of $21.66 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 3.20 and a beta of 1.48.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the prior year, the company posted $1.22 earnings per share. Best Buy’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.27 EPS for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a report on Friday. Telsey Advisory Group upped their price target on shares of Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. Barclays upped their price target on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday. Loop Capital increased their price objective on shares of Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wedbush increased their price objective on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.94.

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.