XTX Topco Ltd Buys 11,828 Shares of Best Buy Co., Inc. (NYSE:BBY)

XTX Topco Ltd lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 238.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,798 shares of the technology retailer’s stock after purchasing an additional 11,828 shares during the quarter. XTX Topco Ltd’s holdings in Best Buy were worth $1,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC boosted its position in shares of Best Buy by 69.5% during the 1st quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after purchasing an additional 132 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Best Buy during the 1st quarter worth about $27,000. Richardson Financial Services Inc. boosted its position in shares of Best Buy by 190.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 210 shares in the last quarter. PrairieView Partners LLC boosted its position in shares of Best Buy by 67.1% during the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after purchasing an additional 151 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Best Buy during the 2nd quarter worth about $35,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $97.27 on Friday. The company’s 50-day moving average is $90.15 and its 200 day moving average is $83.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The company has a market capitalization of $20.98 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.46. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. Best Buy’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 earnings per share. On average, equities research analysts forecast that Best Buy Co., Inc. will post 6.26 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 3.87%. Best Buy’s payout ratio is 65.85%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BBY. UBS Group increased their price objective on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays upped their target price on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. BNP Paribas upgraded shares of Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. Wedbush upped their target price on shares of Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company upped their target price on shares of Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.56.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total value of $61,154,874.88. Following the completion of the transaction, the chairman now directly owns 14,911,525 shares of the company’s stock, valued at approximately $1,319,073,501.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Jason J. Bonfig sold 3,500 shares of Best Buy stock in a transaction on Monday, July 8th. The stock was 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 in the company, valued at $4,210,276.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 691,328 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, the chairman now owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The disclosure for this sale can be found here. Insiders sold 1,383,370 shares of company stock worth $122,233,276 over the last quarter. Corporate insiders own 0.59% of the company’s stock.

Best Buy Company Profile

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.