Best Buy Co., Inc. (BBY) Shares Bought by Commonwealth Equity Services Inc

Commonwealth Equity Services Inc increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,007 shares of the technology retailer’s stock after buying an additional 2,954 shares during the period. Commonwealth Equity Services Inc’s holdings in Best Buy were worth $3,190,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of Best Buy by 762.4% in the second quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after buying an additional 3,119,700 shares in the last quarter. Bank of New York Mellon Corp increased its position in Best Buy by 27.5% during the third quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after purchasing an additional 866,787 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Best Buy by 125.4% during the second quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock worth $79,563,000 after purchasing an additional 772,200 shares during the last quarter. APG Asset Management N.V. increased its position in Best Buy by 27.6% during the third quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after purchasing an additional 723,500 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Best Buy by 63.0% during the second quarter. Great West Life Assurance Co. Can now owns 916,119 shares of the technology retailer’s stock worth $52,431,000 after purchasing an additional 354,018 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

In other Best Buy news, insider Kathleen Scarlett sold 10,797 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total value of $566,734.53. Following the transaction, the insider now directly owns 25,690 shares in the company, valued at approximately $1,348,468.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total transaction of $58,800,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,098,184 shares of company stock worth $124,544,562 over the last quarter. Insiders own 0.84% of the company’s stock.

Shares of Best Buy Co., Inc. (NYSE BBY) traded down $0.67 on Wednesday, reaching $60.97. 3,538,116 shares of the company’s stock traded hands, compared to its average volume of 4,470,955. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The firm has a market cap of $18,285.02, a PE ratio of 15.56, a P/E/G ratio of 1.30 and a beta of 1.40. Best Buy Co., Inc. has a 12 month low of $41.67 and a 12 month high of $63.32.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. sell-side analysts anticipate that Best Buy Co., Inc. will post 4.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.23%. Best Buy’s dividend payout ratio is presently 34.34%.

A number of equities research analysts have weighed in on the stock. UBS reiterated a “buy” rating and set a $57.00 price target (down from $60.00) on shares of Best Buy in a research report on Wednesday, September 20th. Piper Jaffray Companies reiterated a “buy” rating and set a $68.00 price target on shares of Best Buy in a research report on Thursday, September 21st. Jefferies Group reissued a “hold” rating and issued a $60.00 price objective on shares of Best Buy in a research note on Wednesday, August 9th. Loop Capital reissued a “buy” rating and issued a $72.00 price objective on shares of Best Buy in a research note on Wednesday, September 20th. Finally, Telsey Advisory Group lowered their price objective on shares of Best Buy from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, September 20th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy has an average rating of “Hold” and a consensus target price of $58.81.

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Best Buy 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.

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

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