Dorsey & Whitney Trust CO LLC Has $796,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Dorsey & Whitney Trust CO LLC grew its position in Best Buy Co., Inc. (NYSE:BBY) by 110.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,446 shares of the technology retailer’s stock after buying an additional 4,955 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Best Buy were worth $796,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBY. Rise Advisors LLC lifted its holdings in Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after buying an additional 132 shares during the period. Palisade Asset Management LLC bought a new stake in shares of Best Buy during the 1st quarter valued at $27,000. PrairieView Partners LLC lifted its stake in shares of Best Buy by 67.1% in the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 151 shares during the period. Innealta Capital LLC acquired a new stake in shares of Best Buy during the second quarter worth $35,000. Finally, American National Bank acquired a new stake in shares of Best Buy during the first quarter worth $37,000. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Loop Capital raised their target price on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays boosted their price objective on shares of Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Truist Financial increased their target price on shares of Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Telsey Advisory Group boosted their price target on shares of Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, BNP Paribas raised Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.56.

Best Buy Trading Up 1.3 %

NYSE:BBY opened at $97.60 on Thursday. The company has a market cap of $21.05 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $103.71. The business has a 50 day moving average price of $88.25 and a two-hundred day moving average price of $82.51. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, analysts expect that Best Buy Co., Inc. will post 6.26 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be issued a dividend of $0.94 per share. The ex-dividend date is Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 3.85%. Best Buy’s payout ratio is presently 65.85%.

Insider Activity at Best Buy

In other Best Buy news, EVP Jason J. Bonfig sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $83.02, for a total transaction of $290,570.00. Following the transaction, the executive vice president now owns 50,714 shares of the company’s stock, valued at approximately $4,210,276.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the transaction, the executive vice president now directly owns 50,714 shares of the company’s stock, valued at $4,210,276.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the sale, the chairman now directly owns 13,602,853 shares in the company, valued at $1,200,451,777.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,383,370 shares of company stock valued at $122,233,276. Insiders own 0.59% of the company’s stock.

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.