WBI Investments Inc. decreased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 57.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,420 shares of the technology retailer’s stock after selling 95,779 shares during the period. WBI Investments Inc.’s holdings in Best Buy Co. were worth $4,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of BBY. World Asset Management Inc grew its stake in shares of Best Buy Co. by 8.0% in the first quarter. World Asset Management Inc now owns 31,628 shares of the technology retailer’s stock worth $1,555,000 after acquiring an additional 2,352 shares in the last quarter. Meadow Creek Investment Management LLC grew its stake in shares of Best Buy Co. by 15.6% in the first quarter. Meadow Creek Investment Management LLC now owns 273,056 shares of the technology retailer’s stock worth $13,421,000 after acquiring an additional 36,768 shares in the last quarter. Intrust Bank NA grew its stake in shares of Best Buy Co. by 4.5% in the first quarter. Intrust Bank NA now owns 4,998 shares of the technology retailer’s stock worth $246,000 after acquiring an additional 216 shares in the last quarter. Alethea Capital Management LLC acquired a new position in shares of Best Buy Co. in the first quarter worth $2,560,000. Finally, Karp Capital Management Corp acquired a new position in shares of Best Buy Co. in the first quarter worth $7,034,000. Institutional investors and hedge funds own 86.46% of the company’s stock.

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Shares of Best Buy Co., Inc. (NYSE:BBY) traded up 1.99% during midday trading on Wednesday, hitting $57.92. 975,690 shares of the stock were exchanged. The firm has a 50-day moving average price of $58.53 and a 200-day moving average price of $53.41. The company has a market cap of $17.33 billion, a PE ratio of 15.33 and a beta of 1.48. Best Buy Co., Inc. has a 12-month low of $37.10 and a 12-month high of $63.32.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating 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 previous year, the business posted $0.57 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts predict that Best Buy Co., Inc. will post $4.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy Co.’s dividend payout ratio (DPR) is presently 35.88%.

A number of brokerages recently commented on BBY. Loop Capital reiterated a “buy” rating and set a $72.00 target price (up previously from $64.00) on shares of Best Buy Co. in a research note on Monday, June 5th. Barclays PLC reiterated a “buy” rating and set a $65.00 target price on shares of Best Buy Co. in a research note on Monday, August 28th. Deutsche Bank AG reiterated a “buy” rating and set a $58.00 target price (down previously from $60.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Morgan Stanley upgraded shares of Best Buy Co. from an “equal weight” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $60.00 in a research note on Tuesday, May 30th. Finally, BidaskClub upgraded shares of Best Buy Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Best Buy Co. currently has an average rating of “Buy” and an average target price of $58.92.

In other news, insider Shari L. Ballard sold 9,778 shares of Best Buy Co. stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $534,661.04. Following the completion of the transaction, the insider now directly owns 84,613 shares of the company’s stock, valued at approximately $4,626,638.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Asheesh Saksena sold 22,255 shares of Best Buy Co. stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $55.66, for a total transaction of $1,238,713.30. Following the completion of the sale, the insider now owns 82,440 shares in the company, valued at $4,588,610.40. The disclosure for this sale can be found here. Insiders sold a total of 174,583 shares of company stock valued at $9,675,219 over the last ninety days. Company insiders own 0.84% of the company’s stock.

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

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