Boston Partners reduced its holdings in Best Buy Co., Inc. (NYSE:BBY) by 39.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,340,550 shares of the technology retailer’s stock after selling 881,639 shares during the period. Boston Partners owned approximately 0.45% of Best Buy Co. worth $76,358,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Managed Accounts LLC raised its holdings in Best Buy Co. by 18,281.8% in the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after purchasing an additional 2,011 shares during the period. Huntington National Bank raised its holdings in 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 purchasing an additional 318 shares during the period. Exane Derivatives raised its holdings in Best Buy Co. by 65.5% in the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after purchasing an additional 1,010 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Best Buy Co. by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after purchasing an additional 163 shares during the period. Finally, Keybank National Association OH acquired a new stake in Best Buy Co. in the second quarter worth $200,000. Institutional investors and hedge funds own 88.28% of the company’s stock.
Best Buy Co., Inc. (NYSE BBY) opened at $56.68 on Friday. Best Buy Co., Inc. has a 12-month low of $37.65 and a 12-month high of $63.32. The company has a market cap of $16,733.39, a PE ratio of 14.49, a PEG ratio of 1.13 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.42 and a quick ratio of 0.69.
Best Buy Co. (NYSE:BBY) last announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The company had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter last year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. sell-side analysts expect that Best Buy Co., Inc. will post 4.06 earnings per share for the current year.
In other news, CFO Corie S. Barry sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $57.26, for a total transaction of $179,452.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hubert Joly sold 14,734 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $882,861.28. Following the sale, the chief executive officer now owns 540,694 shares of the company’s stock, valued at approximately $32,398,384.48. The disclosure for this sale can be found here. In the last three months, insiders sold 166,259 shares of company stock valued at $9,182,693. Insiders own 1.21% of the company’s stock.
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Several research firms have weighed in on BBY. Zacks Investment Research lowered shares of Best Buy Co. from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Loop Capital set a $72.00 target price on shares of Best Buy Co. and gave the stock a “buy” rating in a report on Tuesday, October 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $68.00 target price on shares of Best Buy Co. in a report on Thursday, September 21st. UBS AG reiterated a “buy” rating and issued a $57.00 target price (down from $60.00) on shares of Best Buy Co. in a report on Wednesday, September 20th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Best Buy Co. in a report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $58.97.
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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