Seed Wealth Management Inc. Sells 210 Shares of Best Buy Co., Inc. (NYSE:BBY)

Seed Wealth Management Inc. reduced its stake in Best Buy Co., Inc. (NYSE:BBY) by 5.1% during the first quarter, HoldingsChannel reports. The firm owned 3,890 shares of the technology retailer’s stock after selling 210 shares during the period. Seed Wealth Management Inc.’s holdings in Best Buy were worth $318,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dark Forest Capital Management LP boosted its stake in shares of Best Buy by 104.3% in the 3rd quarter. Dark Forest Capital Management LP now owns 9,873 shares of the technology retailer’s stock valued at $686,000 after purchasing an additional 5,041 shares in the last quarter. LPL Financial LLC grew its stake in shares of Best Buy by 1.3% during the third quarter. LPL Financial LLC now owns 98,888 shares of the technology retailer’s stock valued at $6,870,000 after buying an additional 1,233 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Best Buy by 7.7% in the third quarter. Northern Trust Corp now owns 2,787,163 shares of the technology retailer’s stock worth $193,624,000 after buying an additional 199,749 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Best Buy by 549.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 302 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Best Buy by 3.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,528 shares of the technology retailer’s stock valued at $384,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other news, CAO Mathew Watson sold 3,520 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total value of $290,153.60. Following the sale, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at approximately $1,823,186.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Richard M. Schulze sold 1,000,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the sale, the chairman now directly owns 15,890,103 shares of the company’s stock, valued at approximately $1,364,165,342.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 3,520 shares of Best Buy stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total transaction of $290,153.60. Following the completion of the transaction, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The disclosure for this sale can be found here. Insiders sold a total of 2,004,149 shares of company stock valued at $166,397,807 in the last three months. Company insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays lifted their price target on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a report on Thursday, February 29th. Evercore ISI increased their price target on shares of Best Buy from $80.00 to $90.00 and gave the company an “in-line” rating in a research report on Friday, May 31st. UBS Group upgraded shares of Best Buy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $106.00 in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $89.00 to $101.00 in a report on Friday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.87.

Best Buy Stock Up 0.1 %

Best Buy stock traded up $0.08 during trading hours on Thursday, hitting $84.34. 2,392,214 shares of the stock traded hands, compared to its average volume of 3,180,963. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $93.72. The company has a market cap of $18.19 billion, a PE ratio of 14.77, a PEG ratio of 2.79 and a beta of 1.49. The firm’s 50-day moving average price is $79.41 and its two-hundred day moving average price is $77.57. The company has a current ratio of 1.01, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 30th. The technology retailer reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.96 billion. Best Buy had a return on equity of 47.56% and a net margin of 2.90%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. On average, research analysts forecast that Best Buy Co., Inc. will post 6.11 EPS for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 20th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $3.76 annualized dividend and a dividend yield of 4.46%. Best Buy’s payout ratio is 65.85%.

About Best Buy

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.