Johnson Investment Counsel Inc. Increases Position in Best Buy Co., Inc. (NYSE:BBY)

Johnson Investment Counsel Inc. lifted its position in Best Buy Co., Inc. (NYSE:BBY) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,135 shares of the technology retailer’s stock after acquiring an additional 158 shares during the period. Johnson Investment Counsel Inc.’s holdings in Best Buy were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baldwin Brothers LLC MA acquired a new stake in shares of Best Buy during the second quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Best Buy during the 1st quarter valued at approximately $28,000. Clear Street Markets LLC lifted its stake in Best Buy by 90.6% during the 1st quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 183 shares during the period. Cambridge Trust Co. boosted its holdings in shares of Best Buy by 3,900.0% in the 1st quarter. Cambridge Trust Co. now owns 400 shares of the technology retailer’s stock valued at $31,000 after acquiring an additional 390 shares during the last quarter. Finally, BOKF NA acquired a new stake in shares of Best Buy in the first quarter worth $33,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Insider Buying and Selling at Best Buy

In related news, insider Todd G. Hartman sold 7,948 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $69.38, for a total value of $551,432.24. Following the sale, the insider now directly owns 13,337 shares in the company, valued at approximately $925,321.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Best Buy news, insider Todd G. Hartman sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $71.18, for a total transaction of $355,900.00. Following the transaction, the insider now directly owns 21,285 shares in the company, valued at $1,515,066.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 7,948 shares of Best Buy stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $69.38, for a total value of $551,432.24. Following the completion of the sale, the insider now directly owns 13,337 shares of the company’s stock, valued at $925,321.06. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BBY. Morgan Stanley boosted their target price on shares of Best Buy from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, August 31st. Telsey Advisory Group dropped their target price on Best Buy from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Friday. DA Davidson boosted their price target on Best Buy from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 30th. TheStreet raised shares of Best Buy from a “c” rating to a “b-” rating in a research note on Tuesday, August 29th. Finally, The Goldman Sachs Group raised shares of Best Buy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $79.00 to $85.00 in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.93.

Best Buy Stock Down 0.2 %

NYSE BBY opened at $68.11 on Tuesday. The business’s fifty day simple moving average is $68.44 and its 200-day simple moving average is $74.28. The company has a quick ratio of 0.31, a current ratio of 0.98 and a debt-to-equity ratio of 0.40. The firm has a market cap of $14.82 billion, a PE ratio of 11.72, a P/E/G ratio of 1.80 and a beta of 1.53. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $93.32.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, August 29th. The technology retailer reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.16. The company had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.52 billion. Best Buy had a net margin of 2.91% and a return on equity of 49.40%. Best Buy’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 earnings per share. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.22 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.40%. Best Buy’s dividend payout ratio (DPR) is 63.34%.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.