Sei Investments Co. Boosts Holdings in Best Buy Co., Inc. (BBY)

Sei Investments Co. raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 144.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,969 shares of the technology retailer’s stock after buying an additional 50,184 shares during the quarter. Sei Investments Co.’s holdings in Best Buy were worth $4,850,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Nordea Investment Management AB boosted its holdings in shares of Best Buy by 0.3% during the second quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock worth $860,000 after purchasing an additional 48 shares during the last quarter. Advisor Group Inc. raised its position in shares of Best Buy by 1.2% in the 2nd quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock worth $265,000 after buying an additional 55 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Best Buy by 6.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after buying an additional 163 shares during the period. Thrivent Financial For Lutherans raised its position in shares of Best Buy by 1.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock worth $576,000 after buying an additional 170 shares during the period. Finally, Financial Advisors Network Inc. raised its position in shares of Best Buy by 2.3% in the 2nd quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock worth $433,000 after buying an additional 172 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

In other news, insider Kathleen Scarlett sold 10,797 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total transaction of $566,734.53. Following the completion of the transaction, the insider now directly owns 25,690 shares in the company, valued at $1,348,468.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Corie S. Barry sold 3,134 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total value of $179,452.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,098,184 shares of company stock valued at $124,544,562. Insiders own 0.84% of the company’s stock.

Several research analysts recently weighed in on BBY shares. Barclays reaffirmed a “buy” rating and issued a $65.00 target price on shares of Best Buy in a research report on Monday, August 28th. Wedbush set a $32.00 price objective on Best Buy and gave the company a “sell” rating in a research report on Wednesday, November 29th. KeyCorp reissued a “hold” rating on shares of Best Buy in a research report on Friday, November 10th. Zacks Investment Research raised Best Buy from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, Deutsche Bank set a $56.00 price objective on Best Buy and gave the company a “hold” rating in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given 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 price target of $58.81.

Best Buy Co., Inc. (BBY) opened at $61.98 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Best Buy Co., Inc. has a 52 week low of $41.67 and a 52 week high of $63.32. The company has a market capitalization of $18,285.02, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.30 and a beta of 1.40.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.78. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. Best Buy’s quarterly revenue was up 4.2% compared to the same quarter last year. equities research analysts predict that Best Buy Co., Inc. will post 4.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.19%. Best Buy’s dividend payout ratio is presently 34.34%.

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Best Buy 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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