Oppenheimer Asset Management Inc. lessened its position in Best Buy Co., Inc. (NYSE:BBY) by 12.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,652 shares of the technology retailer’s stock after selling 1,595 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Best Buy Co. were worth $668,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Best Buy Co. by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock valued at $1,602,962,000 after buying an additional 1,241,888 shares during the period. BlackRock Inc. raised its holdings in shares of Best Buy Co. by 1,859.1% in the 1st quarter. BlackRock Inc. now owns 20,064,628 shares of the technology retailer’s stock valued at $986,174,000 after buying an additional 19,040,478 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Best Buy Co. by 6.5% in the 1st quarter. JPMorgan Chase & Co. now owns 14,724,133 shares of the technology retailer’s stock valued at $723,692,000 after buying an additional 898,300 shares during the period. State Street Corp raised its holdings in shares of Best Buy Co. by 1.9% in the 1st quarter. State Street Corp now owns 13,700,994 shares of the technology retailer’s stock valued at $673,407,000 after buying an additional 250,469 shares during the period. Finally, American International Group Inc. raised its holdings in shares of Best Buy Co. by 1.3% in the 1st quarter. American International Group Inc. now owns 10,846,704 shares of the technology retailer’s stock valued at $533,116,000 after buying an additional 142,042 shares during the period. Hedge funds and other institutional investors own 86.46% of the company’s stock.

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In other news, CEO Hubert Joly sold 14,734 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction 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 $32,398,384.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Asheesh Saksena sold 22,255 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $55.66, for a total value of $1,238,713.30. Following the transaction, the insider now owns 82,440 shares of the company’s stock, valued at $4,588,610.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,583 shares of company stock valued at $9,675,219. Insiders own 1.21% of the company’s stock.

Several equities research analysts have weighed in on BBY shares. Wedbush restated an “underperform” rating and set a $29.00 price target on shares of Best Buy Co. in a report on Monday, May 22nd. UBS AG restated a “buy” rating and set a $51.00 price target (up previously from $47.00) on shares of Best Buy Co. in a report on Wednesday, May 24th. Jefferies Group LLC upped their price target on Best Buy Co. from $43.00 to $51.00 and gave the stock a “hold – buy” rating in a report on Thursday, May 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Best Buy Co. in a report on Thursday, May 25th. Finally, Telsey Advisory Group upped their price target on Best Buy Co. from $53.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Best Buy Co. currently has a consensus rating of “Buy” and a consensus price target of $58.92.

Best Buy Co., Inc. (BBY) opened at 58.60 on Thursday. The stock has a market capitalization of $17.53 billion, a P/E ratio of 15.51 and a beta of 1.48. Best Buy Co., Inc. has a 1-year low of $37.10 and a 1-year high of $63.32. The company has a 50-day moving average price of $58.59 and a 200 day moving average price of $53.49.

Best Buy Co. (NYSE:BBY) last issued its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.67 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. On average, equities analysts predict that Best Buy Co., Inc. will post $4.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, September 18th. This represents a $1.36 annualized dividend and a dividend yield of 2.32%. Best Buy Co.’s dividend payout ratio 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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Institutional Ownership by Quarter for Best Buy Co. (NYSE:BBY)

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