Evergreen Capital Management LLC Has $478,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Evergreen Capital Management LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 25.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,607 shares of the technology retailer’s stock after acquiring an additional 1,123 shares during the period. Evergreen Capital Management LLC’s holdings in Best Buy were worth $478,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ninety One UK Ltd bought a new stake in shares of Best Buy during the second quarter valued at approximately $121,325,000. Thrivent Financial for Lutherans raised its stake in shares of Best Buy by 4,337.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after buying an additional 1,074,718 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Best Buy by 55.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock worth $241,347,000 after acquiring an additional 1,024,824 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Best Buy by 11,586.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 686,128 shares of the technology retailer’s stock worth $53,710,000 after acquiring an additional 680,257 shares during the period. Finally, KBC Group NV boosted its position in shares of Best Buy by 320.4% during the 4th quarter. KBC Group NV now owns 860,388 shares of the technology retailer’s stock valued at $67,352,000 after acquiring an additional 655,750 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Down 1.2 %

BBY stock opened at $97.84 on Thursday. The business has a fifty day moving average of $90.63 and a 200-day moving average of $83.82. The company has a market cap of $21.01 billion, a P/E ratio of 17.13, a PEG ratio of 2.56 and a beta of 1.46. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $103.71. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the prior year, the company posted $1.22 EPS. The company’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, September 19th. Best Buy’s dividend payout ratio is presently 65.85%.

Analyst Ratings Changes

BBY has been the subject of a number of analyst reports. Melius Research initiated coverage on shares of Best Buy in a research note on Monday. They set a “hold” rating and a $100.00 price target for the company. Evercore ISI raised their target price on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research report on Friday, August 30th. StockNews.com upgraded Best Buy from a “hold” rating to a “buy” rating in a research report on Monday. Wedbush increased their price objective on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, DA Davidson boosted their target price on shares of Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and an average target price of $102.41.

Insider Buying and Selling at Best Buy

In other news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the transaction, the executive vice president now directly owns 50,714 shares in the company, valued at approximately $4,210,276.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jason J. Bonfig sold 3,500 shares of the 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 sale, the executive vice president now directly owns 50,714 shares in the company, valued at approximately $4,210,276.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 691,328 shares of the business’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 transaction of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares of the company’s stock, valued at approximately $1,319,073,501.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,383,370 shares of company stock worth $122,233,276. Insiders own 0.59% of the company’s stock.

Best Buy Company 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.