Rothschild Investment LLC Takes $84,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Rothschild Investment LLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,000 shares of the technology retailer’s stock, valued at approximately $84,000.

A number of other institutional investors have also added to or reduced their stakes in BBY. Rise Advisors LLC increased its position 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 purchasing an additional 132 shares in the last quarter. Access Investment Management LLC acquired a new position in Best Buy in the fourth quarter valued at about $27,000. Palisade Asset Management LLC bought a new position in Best Buy during the 1st quarter worth approximately $27,000. PrairieView Partners LLC grew its holdings in shares of Best Buy by 67.1% in the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after buying an additional 151 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Best Buy during the 2nd quarter valued at about $35,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Trading Down 1.0 %

Shares of Best Buy stock opened at $99.96 on Thursday. Best Buy Co., Inc. has a 1-year low of $62.30 and a 1-year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.33. The stock has a market capitalization of $21.56 billion, a PE ratio of 17.51, a P/E/G ratio of 3.20 and a beta of 1.48. The company’s fifty day simple moving average is $86.76 and its 200-day simple moving average is $81.69.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS 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 firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.27 earnings per share for the current year.

Best Buy Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on BBY. Loop Capital boosted their target price on Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Truist Financial upped their price objective on shares of Best Buy from $86.00 to $107.00 and gave the company a “hold” rating in a report on Friday, August 30th. UBS Group increased their target price on Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Bank of America lifted their price objective on shares of Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research note on Friday, August 30th. Finally, BNP Paribas upgraded shares of 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 issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy presently has an average rating of “Moderate Buy” and a consensus target price of $102.56.

Insider Buying and Selling

In other news, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total value of $7,813,831.50. Following the completion of the sale, the chairman now owns 13,602,853 shares of the company’s stock, valued at approximately $1,200,451,777.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Best Buy news, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the transaction, the chairman now owns 13,602,853 shares in the company, valued at approximately $1,200,451,777.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jason J. Bonfig sold 3,500 shares of the company’s stock in a transaction that occurred 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 owns 50,714 shares in the company, valued at approximately $4,210,276.28. The disclosure for this sale can be found here. Insiders have sold 1,383,370 shares of company stock valued at $122,233,276 in the last 90 days. Company insiders own 0.59% of the company’s stock.

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.