Mizuho Markets Americas LLC Raises Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Mizuho Markets Americas LLC boosted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,687 shares of the technology retailer’s stock after purchasing an additional 1,000 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Best Buy were worth $1,407,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BBY. Tobam grew its stake in Best Buy by 15.6% during the second quarter. Tobam now owns 895 shares of the technology retailer’s stock valued at $75,000 after acquiring an additional 121 shares in the last quarter. LVW Advisors LLC increased its holdings in shares of Best Buy by 2.3% in the second quarter. LVW Advisors LLC now owns 5,716 shares of the technology retailer’s stock worth $482,000 after purchasing an additional 130 shares during the last quarter. Rise Advisors LLC lifted its position in shares of Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after buying an additional 132 shares in the last quarter. MCF Advisors LLC boosted its stake in Best Buy by 2.7% during the first quarter. MCF Advisors LLC now owns 5,087 shares of the technology retailer’s stock valued at $422,000 after buying an additional 134 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in Best Buy by 34.7% during the 2nd quarter. Continuum Advisory LLC now owns 578 shares of the technology retailer’s stock valued at $49,000 after buying an additional 149 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 691,328 shares of the 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 directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Richard M. Schulze sold 600,000 shares of Best Buy stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total value of $52,974,000.00. Following the transaction, the chairman now owns 14,002,853 shares of the company’s stock, valued at approximately $1,236,311,891.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 691,328 shares of the 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 sale, the chairman now directly 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 quarter, insiders have sold 2,383,370 shares of company stock valued at $208,083,276. Company insiders own 0.59% of the company’s stock.

Best Buy Trading Up 0.2 %

BBY stock traded up $0.22 during trading on Friday, hitting $100.40. The company had a trading volume of 5,553,076 shares, compared to its average volume of 2,807,112. The firm has a market capitalization of $21.66 billion, a P/E ratio of 17.58, a PEG ratio of 3.20 and a beta of 1.48. The company has a quick ratio of 0.33, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $103.71. The company has a 50 day simple moving average of $85.94 and a 200-day simple moving average of $81.15.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping 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 business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same period last year, the company posted $1.22 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.27 earnings per share for the current fiscal 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 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, September 19th. Best Buy’s payout ratio is 65.85%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BBY. Bank of America upped their price objective on Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a report on Friday. Telsey Advisory Group increased their price objective on shares of Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Friday. DA Davidson increased their price target on shares of Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Wells Fargo & Company upped their price objective on Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and a consensus target price of $100.94.

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.