SeaCrest Wealth Management LLC Has $276,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

SeaCrest Wealth Management LLC grew its position in Best Buy Co., Inc. (NYSE:BBY) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,675 shares of the technology retailer’s stock after buying an additional 118 shares during the period. SeaCrest Wealth Management LLC’s holdings in Best Buy were worth $276,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of Best Buy in the third quarter worth about $368,000. Kapitalo Investimentos Ltda bought a new stake in Best Buy during the 3rd quarter worth approximately $338,000. Hutchens & Kramer Investment Management Group LLC acquired a new stake in Best Buy during the 3rd quarter worth approximately $215,000. Empirical Asset Management LLC bought a new position in Best Buy in the third quarter valued at approximately $558,000. Finally, Stablepoint Partners LLC boosted its holdings in shares of Best Buy by 15.6% in the third quarter. Stablepoint Partners LLC now owns 4,763 shares of the technology retailer’s stock valued at $492,000 after buying an additional 642 shares during the period. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Melius Research began coverage on shares of Best Buy in a report on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective on the stock. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Telsey Advisory Group upped their price objective on Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. UBS Group lifted their target price on Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $114.00 target price (up previously from $100.00) on shares of Best Buy in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.71.

Best Buy Stock Performance

Shares of BBY stock opened at $96.14 on Friday. The stock has a market cap of $20.74 billion, a P/E ratio of 16.84, a P/E/G ratio of 2.58 and a beta of 1.46. The company has a fifty day moving average price of $95.36 and a two-hundred day moving average price of $86.17. 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 posted its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. Best Buy’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Thursday, September 19th. Best Buy’s payout ratio is presently 65.85%.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 600,000 shares of Best Buy stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the completion of the transaction, the chairman now directly owns 14,002,853 shares of the company’s stock, valued at $1,236,311,891.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Richard M. Schulze sold 600,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $88.29, for a total value of $52,974,000.00. Following the transaction, the chairman now directly owns 14,002,853 shares of the company’s stock, valued at $1,236,311,891.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 88,542 shares of Best Buy stock in a transaction dated 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 of the company’s stock, valued at $1,200,451,777.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.

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.