Bailard Inc. Invests $989,000 in Best Buy Co Inc (BBY)

Bailard Inc. purchased a new position in Best Buy Co Inc (NYSE:BBY) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,457 shares of the technology retailer’s stock, valued at approximately $989,000.

Other large investors also recently bought and sold shares of the company. NuWave Investment Management LLC boosted its position in shares of Best Buy by 7,828.4% in the 3rd quarter. NuWave Investment Management LLC now owns 5,312 shares of the technology retailer’s stock worth $421,000 after purchasing an additional 5,245 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Best Buy by 37.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 657,375 shares of the technology retailer’s stock worth $51,841,000 after purchasing an additional 180,358 shares during the last quarter. Sawtooth Solutions LLC bought a new position in shares of Best Buy in the 3rd quarter worth $267,000. Andesa Financial Management Inc. bought a new position in shares of Best Buy in the 2nd quarter worth $424,000. Finally, Schroder Investment Management Group boosted its position in shares of Best Buy by 1.1% in the 2nd quarter. Schroder Investment Management Group now owns 65,132 shares of the technology retailer’s stock worth $4,884,000 after purchasing an additional 725 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

In other Best Buy news, SVP Mathew Watson sold 2,131 shares of Best Buy stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $77.88, for a total value of $165,962.28. Following the sale, the senior vice president now owns 18,131 shares of the company’s stock, valued at approximately $1,412,042.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Corie S. Barry sold 6,783 shares of Best Buy stock in a transaction dated Friday, October 19th. The shares were sold at an average price of $72.80, for a total value of $493,802.40. Following the completion of the sale, the chief financial officer now directly owns 80,961 shares in the company, valued at approximately $5,893,960.80. The disclosure for this sale can be found here. Insiders sold a total of 11,929 shares of company stock worth $896,005 in the last three months. Company insiders own 0.75% of the company’s stock.

Several research analysts have recently issued reports on BBY shares. Bank of America restated a “buy” rating and issued a $92.00 price target on shares of Best Buy in a research report on Tuesday, August 28th. Barclays restated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research report on Wednesday, August 29th. Raymond James lifted their target price on Best Buy from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Wednesday, October 3rd. Finally, Piper Jaffray Companies reduced their target price on Best Buy from $87.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, November 21st. Thirteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Best Buy presently has an average rating of “Hold” and a consensus price target of $77.06.

BBY stock opened at $62.28 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.28 and a current ratio of 1.10. The stock has a market cap of $16.90 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. Best Buy Co Inc has a 1-year low of $60.07 and a 1-year high of $84.37.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.56 billion. Best Buy had a return on equity of 44.41% and a net margin of 2.52%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. Analysts predict that Best Buy Co Inc will post 5.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Tuesday, December 11th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, December 10th. This represents a $1.80 annualized dividend and a yield of 2.89%. Best Buy’s dividend payout ratio is presently 40.72%.

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Best Buy Company Profile

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.

Further Reading: Can individual investors take part in an IPO?

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

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