Landscape Capital Management L.L.C. Purchases 61,831 Shares of Best Buy Co., Inc. $BBY

Landscape Capital Management L.L.C. grew its position in shares of Best Buy Co., Inc. (NYSE:BBYFree Report) by 1,487.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 65,988 shares of the technology retailer’s stock after acquiring an additional 61,831 shares during the period. Landscape Capital Management L.L.C.’s holdings in Best Buy were worth $4,857,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BBY. Charles Schwab Investment Management Inc. boosted its stake in Best Buy by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after buying an additional 408,605 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Best Buy by 6.4% in the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock worth $289,051,000 after acquiring an additional 234,669 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Best Buy by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock valued at $240,173,000 after purchasing an additional 105,710 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Best Buy by 31.3% during the 4th quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer’s stock valued at $252,495,000 after purchasing an additional 701,287 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Best Buy by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,605,902 shares of the technology retailer’s stock worth $223,586,000 after purchasing an additional 215,265 shares during the period. 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 729,201 shares of Best Buy stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the completion of the transaction, the chairman directly owned 196,100 shares in the company, valued at approximately $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BBY shares. Wells Fargo & Company cut their price target on shares of Best Buy from $75.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, May 30th. Guggenheim reissued a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research note on Tuesday, June 10th. Loop Capital decreased their target price on shares of Best Buy from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. BNP Paribas raised shares of Best Buy to a “hold” rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $90.00 price objective on shares of Best Buy in a research report on Friday, August 22nd. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.50.

Check Out Our Latest Research Report on BBY

Best Buy Price Performance

Shares of NYSE BBY opened at $75.45 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.71. The company’s 50-day moving average is $69.60 and its 200 day moving average is $71.67. The stock has a market capitalization of $15.95 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.95 and a beta of 1.21.

Best Buy (NYSE:BBYGet Free Report) last posted its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.77 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue was down .9% on a year-over-year basis. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Wednesday, June 18th. Best Buy’s dividend payout ratio (DPR) is presently 92.91%.

Best Buy Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBYFree Report).

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

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.