Fiduciary Trust Co. Has $1.88 Million Position in Best Buy Co., Inc. (BBY)
Fiduciary Trust Co. decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,793 shares of the technology retailer’s stock after selling 3,625 shares during the period. Fiduciary Trust Co.’s holdings in Best Buy Co. were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank boosted its position in shares of Best Buy Co. by 18.4% during the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after acquiring an additional 318 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Best Buy Co. during the 1st quarter worth approximately $134,000. Heritage Trust Co acquired a new stake in Best Buy Co. in the first quarter valued at approximately $137,000. TrimTabs Asset Management LLC boosted its position in 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 valued at $139,000 after buying an additional 1,328 shares in the last quarter. Finally, Exane Derivatives boosted its position in Best Buy Co. by 65.5% in the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after buying an additional 1,010 shares in the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.
In other Best Buy Co. news, CEO Hubert Joly sold 14,734 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $882,861.28. Following the completion of the transaction, the chief executive officer now directly owns 540,694 shares in the company, valued at approximately $32,398,384.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shari L. Ballard sold 9,778 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $534,661.04. Following the completion of the transaction, the insider now owns 84,613 shares of the company’s stock, valued at $4,626,638.84. The disclosure for this sale can be found here. Insiders sold a total of 193,792 shares of company stock valued at $10,772,634 over the last 90 days. Company insiders own 1.21% of the company’s stock.
A number of brokerages have weighed in on BBY. Jefferies Group LLC restated a “buy” rating and issued a $60.00 target price on shares of Best Buy Co. in a research report on Thursday, July 6th. Loop Capital restated a “buy” rating and issued a $72.00 target price on shares of Best Buy Co. in a research report on Wednesday, August 16th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Best Buy Co. in a research report on Tuesday, August 29th. Royal Bank Of Canada raised their target price on shares of Best Buy Co. from $60.00 to $61.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 30th. Finally, Wedbush restated an “underperform” rating and issued a $29.00 target price on shares of Best Buy Co. in a research report on Monday, May 22nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $58.92.
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Shares of Best Buy Co., Inc. (BBY) opened at 55.66 on Thursday. The company has a market capitalization of $16.93 billion, a P/E ratio of 14.73 and a beta of 1.48. Best Buy Co., Inc. has a 1-year low of $36.51 and a 1-year high of $63.32. The firm has a 50-day moving average of $58.44 and a 200 day moving average of $53.18. Best Buy Co. also was the target of unusually large options trading activity on Monday. Stock investors bought 993 call options on the stock. This represents an increase of 163% compared to the typical volume of 378 call options.
Best Buy Co. (NYSE:BBY) last issued its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts expect that Best Buy Co., Inc. will post $4.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be issued a $0.34 dividend. The ex-dividend date is Monday, September 18th. This represents a $1.36 annualized dividend and a yield of 2.44%. Best Buy Co.’s dividend payout ratio (DPR) is presently 35.88%.
About Best Buy Co.
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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