Evergreen Capital Management LLC Has $478,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Evergreen Capital Management LLC boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 25.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,607 shares of the technology retailer’s stock after buying an additional 1,123 shares during the period. Evergreen Capital Management LLC’s holdings in Best Buy were worth $478,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. raised its holdings in shares of Best Buy by 190.9% during the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after acquiring an additional 210 shares during the period. Rise Advisors LLC increased its holdings in 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 Best Buy during the 1st quarter worth about $27,000. PrairieView Partners LLC raised 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. Finally, Innealta Capital LLC bought a new stake in shares of Best Buy in the second quarter valued at about $35,000. Institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research reports. Loop Capital increased their price objective on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Melius Research assumed coverage on shares of Best Buy in a report on Monday. They issued a “hold” rating and a $100.00 price objective on the stock. Bank of America increased their target price on shares of Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and issued a $114.00 price target (up from $100.00) on shares of Best Buy in a research note on Friday, August 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued 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 a consensus rating of “Moderate Buy” and a consensus price target of $102.41.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 691,328 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Richard M. Schulze sold 600,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $88.29, for a total value of $52,974,000.00. Following the completion of the sale, the chairman now directly owns 14,002,853 shares in the company, valued at $1,236,311,891.37. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Richard M. Schulze sold 691,328 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, the chairman now directly owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The disclosure for this sale can be found here. In 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.

Best Buy Price Performance

NYSE:BBY opened at $97.84 on Thursday. The company has a market cap of $21.01 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.56 and a beta of 1.46. The firm’s fifty day moving average price is $90.63 and its two-hundred day moving average price is $83.82. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. Best Buy’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 EPS. Equities analysts expect that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Announces Dividend

The company 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 dividend of $0.94 per share. The ex-dividend date is Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.84%. Best Buy’s dividend payout ratio (DPR) is currently 65.85%.

Best Buy 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.