Disciplined Equity Management Inc. Sells 340 Shares of Best Buy Co., Inc. (NYSE:BBY)

Disciplined Equity Management Inc. lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,003 shares of the technology retailer’s stock after selling 340 shares during the quarter. Best Buy accounts for 1.0% of Disciplined Equity Management Inc.’s holdings, making the stock its 16th biggest holding. Disciplined Equity Management Inc.’s holdings in Best Buy were worth $1,550,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Raymond James & Associates grew its position in Best Buy by 17.0% in the 2nd quarter. Raymond James & Associates now owns 3,377,763 shares of the technology retailer’s stock valued at $284,712,000 after acquiring an additional 490,801 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Best Buy by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,055,743 shares of the technology retailer’s stock valued at $257,569,000 after acquiring an additional 235,478 shares during the last quarter. Bank of New York Mellon Corp grew its position in Best Buy by 55.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock valued at $241,347,000 after acquiring an additional 1,024,824 shares during the last quarter. Ninety One UK Ltd bought a new position in Best Buy in the 2nd quarter valued at $121,325,000. Finally, AQR Capital Management LLC grew its position in Best Buy by 55.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after acquiring an additional 491,781 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 0.1 %

Shares of BBY stock opened at $97.44 on Monday. The stock’s 50-day simple moving average is $93.84 and its 200-day simple moving average is $85.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The firm has a market capitalization of $21.02 billion, a PE ratio of 17.06, a P/E/G ratio of 2.58 and a beta of 1.46. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last posted 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. The firm had revenue of $9.29 billion for 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%. Best Buy’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $1.22 earnings per share. Equities analysts expect that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 88,542 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at $1,200,451,777.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Best Buy 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 value of $7,813,831.50. Following the sale, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at approximately $1,200,451,777.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 600,000 shares of the firm’s 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 completion of the sale, the chairman now directly owns 14,002,853 shares in the company, valued at approximately $1,236,311,891.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,379,870 shares of company stock valued at $121,942,706 over the last ninety days. Company insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BNP Paribas raised Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Loop Capital upped their target price on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Bank of America upped their target price on Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a report on Friday, August 30th. Finally, Barclays upped their target price on Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.41.

Best Buy 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.