Fort L.P. raised its stake in Best Buy Co., Inc. (NYSE:BBY) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,767 shares of the technology retailer’s stock after buying an additional 10,734 shares during the period. Best Buy Co. makes up approximately 2.0% of Fort L.P.’s holdings, making the stock its 18th largest holding. Fort L.P.’s holdings in Best Buy Co. were worth $7,841,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BBY. Norinchukin Bank The increased its holdings in Best Buy Co. by 0.7% in the first quarter. Norinchukin Bank The now owns 54,938 shares of the technology retailer’s stock valued at $2,700,000 after buying an additional 377 shares in the last quarter. TrimTabs Asset Management LLC increased its holdings 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. Quantitative Investment Management LLC increased its holdings in Best Buy Co. by 485.7% in the first quarter. Quantitative Investment Management LLC now owns 432,800 shares of the technology retailer’s stock valued at $21,272,000 after buying an additional 358,900 shares in the last quarter. Assetmark Inc. increased its holdings in Best Buy Co. by 4.9% in the first quarter. Assetmark Inc. now owns 17,155 shares of the technology retailer’s stock valued at $843,000 after buying an additional 805 shares in the last quarter. Finally, Trexquant Investment LP increased its holdings in Best Buy Co. by 37.1% in the first quarter. Trexquant Investment LP now owns 61,000 shares of the technology retailer’s stock valued at $2,998,000 after buying an additional 16,500 shares in the last quarter. 88.11% of the stock is owned by institutional investors.

In other Best Buy Co. news, VP Mathew Watson sold 1,129 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $61,733.72. Following the completion of the sale, the vice president now directly owns 17,764 shares of the company’s stock, valued at $971,335.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shari L. Ballard sold 9,778 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly 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 152,328 shares of company stock valued at $8,436,505 over the last three months. Insiders own 0.84% of the company’s stock.

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BBY has been the topic of several research reports. BidaskClub upgraded shares of Best Buy Co. from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. SunTrust Banks, Inc. set a $70.00 price target on shares of Best Buy Co. and gave the company a “buy” rating in a research report on Saturday, July 22nd. Bank of America Corporation reiterated a “buy” rating and issued a $68.00 price target (up from $58.00) on shares of Best Buy Co. in a research report on Sunday, May 28th. Loop Capital reiterated a “buy” rating and issued a $72.00 price target on shares of Best Buy Co. in a research report on Monday, July 10th. Finally, Telsey Advisory Group increased their price target on shares of Best Buy Co. from $53.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, May 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy Co. presently has a consensus rating of “Buy” and a consensus target price of $58.92.

Shares of Best Buy Co., Inc. (BBY) traded down 0.46% during trading on Monday, hitting $58.00. 615,175 shares of the stock were exchanged. The stock’s 50 day moving average is $58.80 and its 200-day moving average is $53.65. The stock has a market cap of $17.35 billion, a price-to-earnings ratio of 15.35 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 announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts anticipate that Best Buy Co., Inc. will post $4.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, September 18th. Best Buy Co.’s dividend payout ratio is 35.88%.

Best Buy Co. 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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