Bank of Montreal Can increased its stake in Best Buy Co Inc (NYSE:BBY) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 483,930 shares of the technology retailer’s stock after acquiring an additional 19,042 shares during the period. Bank of Montreal Can owned approximately 0.18% of Best Buy worth $38,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA acquired a new stake in shares of Best Buy in the second quarter worth approximately $174,000. Squar Milner Financial Services LLC acquired a new stake in shares of Best Buy in the second quarter worth approximately $201,000. RFG Advisory Group LLC acquired a new stake in shares of Best Buy in the second quarter worth approximately $210,000. Capital Investment Advisors LLC acquired a new stake in shares of Best Buy in the second quarter worth approximately $210,000. Finally, Private Capital Group LLC boosted its position in shares of Best Buy by 850.7% in the first quarter. Private Capital Group LLC now owns 2,852 shares of the technology retailer’s stock worth $201,000 after acquiring an additional 2,552 shares during the last quarter. 83.52% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on BBY. Raymond James lifted their price target on shares of Best Buy from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. Credit Suisse Group lifted their price target on shares of Best Buy from $74.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, August 29th. Wedbush set a $65.00 price target on shares of Best Buy and gave the company a “sell” rating in a research report on Thursday, August 23rd. Deutsche Bank lifted their price target on shares of Best Buy from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, August 29th. Finally, Jefferies Financial Group began coverage on shares of Best Buy in a research report on Tuesday, August 21st. They set a “hold” rating and a $79.00 price target on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $80.63.

In other news, insider Patricia H. Walker sold 5,000 shares of Best Buy stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $77.66, for a total transaction of $388,300.00. Following the sale, the insider now owns 21,698 shares in the company, valued at $1,685,066.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Keith J. Nelsen sold 33,473 shares of Best Buy stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $80.38, for a total transaction of $2,690,559.74. The disclosure for this sale can be found here. Insiders have sold 69,928 shares of company stock worth $5,587,624 in the last quarter. Insiders own 0.75% of the company’s stock.

Shares of BBY stock opened at $72.65 on Friday. The company has a market cap of $21.79 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 1.23 and a beta of 0.98. Best Buy Co Inc has a fifty-two week low of $52.92 and a fifty-two week high of $84.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.52 and a current ratio of 1.21.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The company had revenue of $9.38 billion for the quarter, compared to analyst estimates of $9.25 billion. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, equities research analysts anticipate that Best Buy Co Inc will post 5.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 9th. Stockholders of record on Tuesday, September 18th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, September 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.48%. Best Buy’s dividend payout ratio is currently 40.72%.

Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

Further Reading: Buyback

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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