Toronto Dominion Bank Buys 1,293 Shares of Best Buy Co., Inc. (NYSE:BBY)

Toronto Dominion Bank lifted its position in Best Buy Co., Inc. (NYSE:BBYGet Rating) by 1.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 99,300 shares of the technology retailer’s stock after purchasing an additional 1,293 shares during the period. Toronto Dominion Bank’s holdings in Best Buy were worth $6,472,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BerganKDV Wealth Management LLC grew its holdings in Best Buy by 13,566.7% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 410 shares of the technology retailer’s stock worth $27,000 after acquiring an additional 407 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Best Buy in the first quarter worth about $38,000. Clear Street Markets LLC increased its holdings in Best Buy by 376.4% during the 2nd quarter. Clear Street Markets LLC now owns 424 shares of the technology retailer’s stock valued at $28,000 after purchasing an additional 335 shares during the period. Ellevest Inc. raised its position in Best Buy by 91.1% during the 2nd quarter. Ellevest Inc. now owns 472 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 225 shares during the last quarter. Finally, Glassman Wealth Services lifted its holdings in Best Buy by 242.0% in the 2nd quarter. Glassman Wealth Services now owns 472 shares of the technology retailer’s stock worth $31,000 after buying an additional 334 shares during the period. 79.86% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Up 3.1 %

NYSE:BBY opened at $82.39 on Thursday. The stock has a market cap of $18.55 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 0.65 and a beta of 1.46. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average price is $68.00 and its 200-day moving average price is $73.04. Best Buy Co., Inc. has a 52 week low of $60.78 and a 52 week high of $121.87.

Best Buy (NYSE:BBYGet Rating) last posted its earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.35. The business had revenue of $10.59 billion during the quarter, compared to analyst estimates of $10.30 billion. Best Buy had a return on equity of 57.98% and a net margin of 3.60%. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. On average, equities research analysts forecast that Best Buy Co., Inc. will post 6.17 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Tuesday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Monday, December 12th. Best Buy’s payout ratio is presently 47.18%.

Analyst Ratings Changes

Several research firms have recently issued reports on BBY. Wells Fargo & Company reduced their target price on Best Buy from $82.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Bank of America boosted their price target on shares of Best Buy from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com assumed coverage on shares of Best Buy in a report on Wednesday, October 12th. They issued a “hold” rating for the company. UBS Group reduced their target price on Best Buy from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Finally, DA Davidson lowered their target price on Best Buy from $110.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, August 31st. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.38.

Insider Transactions at Best Buy

In other Best Buy news, EVP Damien Harmon sold 1,308 shares of Best Buy stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $76.58, for a total value of $100,166.64. Following the completion of the sale, the executive vice president now owns 44,910 shares of the company’s stock, valued at approximately $3,439,207.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Best Buy news, EVP Damien Harmon sold 1,308 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $76.58, for a total value of $100,166.64. Following the transaction, the executive vice president now directly owns 44,910 shares of the company’s stock, valued at $3,439,207.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathleen Scarlett sold 25,071 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $72.37, for a total transaction of $1,814,388.27. Following the completion of the transaction, the executive vice president now owns 50,101 shares in the company, valued at approximately $3,625,809.37. The disclosure for this sale can be found here. Insiders sold 26,533 shares of company stock worth $1,925,382 over the last three months. 0.44% of the stock is currently owned by company insiders.

About Best Buy

(Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

Further Reading

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

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