Best Buy Co. (BBY) Shares Sold by US Bancorp DE
US Bancorp DE cut its position in shares of Best Buy Co. (NYSE:BBY) by 14.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,354 shares of the technology retailer’s stock after selling 40,761 shares during the period. US Bancorp DE owned approximately 0.08% of Best Buy worth $9,329,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Conning Inc. increased its position in shares of Best Buy by 0.3% in the third quarter. Conning Inc. now owns 12,677 shares of the technology retailer’s stock worth $484,000 after buying an additional 40 shares during the period. Advantus Capital Management Inc increased its position in shares of Best Buy by 0.4% in the second quarter. Advantus Capital Management Inc now owns 27,269 shares of the technology retailer’s stock worth $834,000 after buying an additional 108 shares during the period. Blair William & Co. IL increased its position in shares of Best Buy by 0.7% in the second quarter. Blair William & Co. IL now owns 17,829 shares of the technology retailer’s stock worth $546,000 after buying an additional 125 shares during the period. World Asset Management Inc increased its position in shares of Best Buy by 0.5% in the second quarter. World Asset Management Inc now owns 31,449 shares of the technology retailer’s stock worth $962,000 after buying an additional 172 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock worth $124,000 after buying an additional 253 shares during the period. 86.45% of the stock is owned by hedge funds and other institutional investors.
Shares of Best Buy Co. (NYSE:BBY) remained flat at $45.62 during mid-day trading on Wednesday. The stock had a trading volume of 2,648,413 shares. The firm has a market capitalization of $14.43 billion, a P/E ratio of 13.62 and a beta of 1.51. The firm’s 50-day moving average price is $40.49 and its 200 day moving average price is $35.55. Best Buy Co. has a 12-month low of $25.31 and a 12-month high of $47.29.
Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, November 17th. The technology retailer reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.15. The company had revenue of $8.95 billion for the quarter, compared to the consensus estimate of $8.85 billion. Best Buy had a net margin of 2.78% and a return on equity of 24.18%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. On average, analysts forecast that Best Buy Co. will post $3.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, December 6th. Best Buy’s dividend payout ratio is presently 33.73%.
A number of equities analysts recently issued reports on the company. Morgan Stanley set a $43.00 price target on Best Buy and gave the company a “hold” rating in a report on Saturday, November 19th. Wedbush reissued a “buy” rating and issued a $42.00 price objective on shares of Best Buy in a report on Wednesday. Jefferies Group reissued a “buy” rating and issued a $0.15 price objective on shares of Best Buy in a report on Tuesday, November 22nd. Vetr raised Best Buy from a “sell” rating to a “hold” rating and set a $34.32 price objective for the company in a report on Tuesday, August 16th. Finally, Raymond James Financial Inc. increased their price objective on Best Buy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.64.
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 operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.
Receive News & Stock Ratings for Best Buy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. and related stocks with our FREE daily email newsletter.