Best Buy Co Inc (BBY) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its stake in shares of Best Buy Co Inc (NYSE:BBY) by 22.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,588 shares of the technology retailer’s stock after purchasing an additional 6,437 shares during the quarter. Meeder Asset Management Inc.’s holdings in Best Buy were worth $2,745,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BBY. LFA Lugano Financial Advisors SA acquired a new stake in Best Buy in the second quarter valued at $174,000. Squar Milner Financial Services LLC acquired a new stake in Best Buy in the second quarter valued at $201,000. Capital Investment Advisors LLC acquired a new stake in Best Buy in the second quarter valued at $210,000. RFG Advisory Group LLC acquired a new stake in Best Buy in the second quarter valued at $210,000. Finally, Courier Capital LLC acquired a new stake in Best Buy in the second quarter valued at $217,000. Institutional investors own 85.32% of the company’s stock.

In related news, insider Patricia H. Walker sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $77.66, for a total value of $388,300.00. Following the transaction, the insider now owns 21,698 shares of the company’s stock, valued at approximately $1,685,066.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Corie S. Barry sold 2,982 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $78.35, for a total transaction of $233,639.70. Following the completion of the transaction, the chief financial officer now directly owns 72,838 shares in the company, valued at approximately $5,706,857.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,711 shares of company stock worth $6,081,426. 0.75% of the stock is owned by insiders.

A number of analysts recently weighed in on BBY shares. Zacks Investment Research downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group initiated coverage on Best Buy in a report on Tuesday, August 21st. They issued a “hold” rating and a $79.00 price objective for the company. Wells Fargo & Co reaffirmed a “hold” rating and set a $78.00 price target on shares of Best Buy in a research report on Tuesday, August 28th. Morgan Stanley upped their price target on shares of Best Buy from $74.00 to $78.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 29th. Finally, Barclays reaffirmed a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. Best Buy presently has a consensus rating of “Hold” and a consensus price target of $80.63.

BBY stock opened at $71.68 on Wednesday. The stock has a market cap of $19.74 billion, a PE ratio of 16.22, a P/E/G ratio of 1.11 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.52 and a debt-to-equity ratio of 0.25. Best Buy Co Inc has a 1 year low of $52.92 and a 1 year high of $84.37.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. The company had revenue of $9.38 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. As a group, sell-side analysts expect that Best Buy Co Inc will post 5.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 9th. Stockholders of record on Tuesday, September 18th were given a dividend of $0.45 per share. The ex-dividend date was Monday, September 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.51%. Best Buy’s dividend payout ratio (DPR) is presently 40.72%.

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About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology 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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