5,731 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,731 shares of the technology retailer's stock, valued at approximately $592,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Avenue Securities LLC increased its stake in shares of Best Buy by 1.3% in the 3rd quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer's stock valued at $855,000 after purchasing an additional 103 shares in the last quarter. Tobam raised its stake in shares of Best Buy by 15.6% during the 2nd quarter. Tobam now owns 895 shares of the technology retailer's stock worth $75,000 after buying an additional 121 shares during the period. Hoxton Planning & Management LLC grew its stake in Best Buy by 3.7% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer's stock valued at $360,000 after acquiring an additional 124 shares during the period. LVW Advisors LLC increased its holdings in Best Buy by 2.3% in 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 in the last quarter. Finally, Rise Advisors LLC raised its position in Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer's stock worth $26,000 after acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Buying and Selling

In other news, Chairman Richard M. Schulze sold 691,328 shares of the firm's stock in a transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Richard M. Schulze sold 88,542 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 $1,200,451,777.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 691,328 shares of the firm's stock in a transaction that occurred 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 transaction, the chairman now owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,379,870 shares of company stock valued at $121,942,706 in the last three months. 0.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BBY shares. Telsey Advisory Group lifted their target price on shares of Best Buy from $95.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on Best Buy from $101.00 to $111.00 and gave the stock an "overweight" rating in a research note on Friday, August 30th. Wells Fargo & Company raised their target price on Best Buy from $80.00 to $95.00 and gave the company an "equal weight" rating in a research report on Friday, August 30th. Melius Research initiated coverage on Best Buy in a research note on Monday, September 23rd. They issued a "hold" rating and a $100.00 price target on the stock. Finally, Piper Sandler reissued an "overweight" rating and issued a $114.00 price objective (up from $100.00) on shares of Best Buy in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Best Buy currently has an average rating of "Moderate Buy" and an average price target of $102.41.

Best Buy Trading Up 0.2 %

Shares of NYSE:BBY traded up $0.21 during midday trading on Friday, reaching $97.73. 355,902 shares of the company's stock were exchanged, compared to its average volume of 3,042,692. The firm's 50 day simple moving average is $93.53 and its two-hundred day simple moving average is $85.51. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week 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 0.34. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.58 and a beta of 1.46.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly 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. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The company's quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the business posted $1.22 earnings per share. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 3.85%. Best Buy's dividend payout ratio (DPR) is 64.83%.

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.