Vigilant Capital Management LLC Takes $36,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Vigilant Capital Management LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 322 shares of the technology retailer’s stock, valued at approximately $36,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Diversified Trust Co boosted its holdings in shares of Best Buy by 23.6% in the third quarter. Diversified Trust Co now owns 3,620 shares of the technology retailer’s stock valued at $403,000 after buying an additional 692 shares during the period. FormulaFolio Investments LLC acquired a new position in Best Buy during the third quarter worth $223,000. Raymond James Trust N.A. boosted its holdings in Best Buy by 31.8% during the third quarter. Raymond James Trust N.A. now owns 12,912 shares of the technology retailer’s stock worth $1,437,000 after purchasing an additional 3,117 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Best Buy by 40.0% during the third quarter. Avantax Advisory Services Inc. now owns 6,006 shares of the technology retailer’s stock worth $668,000 after purchasing an additional 1,715 shares during the last quarter. Finally, DNB Asset Management AS boosted its holdings in Best Buy by 1.7% during the third quarter. DNB Asset Management AS now owns 37,964 shares of the technology retailer’s stock worth $4,225,000 after purchasing an additional 640 shares during the last quarter. Institutional investors own 78.92% of the company’s stock.

Shares of BBY opened at $119.35 on Friday. The firm has a market capitalization of $30.89 billion, a PE ratio of 19.25, a PEG ratio of 2.15 and a beta of 1.63. The company’s 50-day moving average is $110.25 and its 200-day moving average is $90.17. Best Buy Co., Inc. has a fifty-two week low of $48.10 and a fifty-two week high of $121.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.06 and a quick ratio of 0.65.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, August 25th. The technology retailer reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.62. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.79 billion. Best Buy had a net margin of 3.75% and a return on equity of 48.82%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 earnings per share. Analysts predict that Best Buy Co., Inc. will post 7.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, September 14th. Best Buy’s payout ratio is presently 36.24%.

In related news, insider Todd G. Hartman sold 1,200 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $105.00, for a total value of $126,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mathew Watson sold 5,677 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $112.58, for a total transaction of $639,116.66. The disclosure for this sale can be found here. Insiders sold 773,547 shares of company stock worth $89,257,157 over the last three months. Insiders own 0.64% of the company’s stock.

Several research analysts recently commented on BBY shares. BNP Paribas started coverage on shares of Best Buy in a report on Monday, October 5th. They set an “outperform” rating and a $131.00 target price for the company. Morgan Stanley increased their target price on shares of Best Buy from $85.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 26th. Barclays upgraded shares of Best Buy to a “buy” rating in a report on Wednesday, August 26th. Zacks Investment Research restated a “buy” rating on shares of Best Buy in a report on Tuesday, July 28th. Finally, Exane BNP Paribas began coverage on shares of Best Buy in a research report on Monday, October 5th. They set an “outperform” rating and a $131.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $104.09.

About Best Buy

Best Buy Co, Inc retails technology products in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, peripherals, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

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

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