Breton Hill Capital Ltd. lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,627 shares of the technology retailer’s stock after selling 742 shares during the period. Best Buy Co. comprises approximately 0.6% of Breton Hill Capital Ltd.’s holdings, making the stock its 28th largest position. Breton Hill Capital Ltd.’s holdings in Best Buy Co. were worth $2,960,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Huntington National Bank increased its position in shares of Best Buy Co. by 18.4% in the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after buying an additional 318 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of Best Buy Co. during the first quarter worth $134,000. Advisory Services Network LLC acquired a new position in shares of Best Buy Co. during the first quarter worth $134,000. Heritage Trust Co acquired a new position in shares of Best Buy Co. during the first quarter worth $137,000. Finally, TrimTabs Asset Management LLC increased its position in shares of Best Buy Co. by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,819 shares of the technology retailer’s stock worth $139,000 after buying an additional 1,328 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.
Best Buy Co., Inc. (NYSE:BBY) traded up 0.36% during trading on Wednesday, hitting $55.52. The company had a trading volume of 769,392 shares. The stock has a market capitalization of $16.93 billion, a PE ratio of 14.94 and a beta of 1.44. The stock has a 50-day moving average of $56.40 and a 200-day moving average of $49.94. Best Buy Co., Inc. has a one year low of $32.02 and a one year high of $61.95. Best Buy Co. also was the target of unusually large options trading on Monday. Traders bought 993 call options on the company. This represents an increase of approximately 163% compared to the typical volume of 378 call options.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.20. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The business had revenue of $8.53 billion during the quarter, compared to analysts’ expectations of $8.28 billion. During the same quarter last year, the company posted $0.44 earnings per share. Best Buy Co.’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Best Buy Co., Inc. will post $3.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, June 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Tuesday, June 13th. Best Buy Co.’s payout ratio is currently 36.46%.
BBY has been the topic of a number of research analyst reports. UBS AG reiterated a “buy” rating and set a $51.00 price target (up previously from $47.00) on shares of Best Buy Co. in a report on Wednesday, May 24th. Bank of America Corporation upgraded Best Buy Co. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a report on Tuesday, April 25th. Deutsche Bank AG upgraded Best Buy Co. from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Tuesday, April 11th. Loop Capital reiterated a “buy” rating and set a $58.00 price target on shares of Best Buy Co. in a report on Tuesday, April 4th. Finally, Barclays PLC reiterated a “buy” rating and set a $65.00 price target on shares of Best Buy Co. in a report on Friday, May 26th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.76.
In other Best Buy Co. news, VP Mathew Watson sold 14,568 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $60.43, for a total transaction of $880,344.24. Following the completion of the sale, the vice president now directly owns 21,872 shares in the company, valued at $1,321,724.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Asheesh Saksena sold 22,255 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $55.66, for a total transaction of $1,238,713.30. Following the sale, the insider now owns 82,440 shares of the company’s stock, valued at $4,588,610.40. The disclosure for this sale can be found here. Insiders have sold 121,917 shares of company stock valued at $7,107,375 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.
Best Buy Co. Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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