Teachers Retirement System of The State of Kentucky lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,295 shares of the technology retailer’s stock after selling 36,600 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.10% of Best Buy Co. worth $18,305,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BBY. FNY Managed Accounts LLC increased its stake in shares of Best Buy Co. by 18,281.8% during the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after acquiring an additional 2,011 shares during the last quarter. Huntington National Bank increased its stake 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 valued at $118,000 after acquiring an additional 318 shares during the last quarter. Exane Derivatives increased its stake in shares of Best Buy Co. by 65.5% during the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after acquiring an additional 1,010 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Best Buy Co. during the 1st quarter valued at about $147,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Best Buy Co. by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after acquiring an additional 163 shares during the last quarter. 88.11% of the stock is owned by institutional investors.

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Best Buy Co., Inc. (NYSE:BBY) traded up 0.95% during trading on Monday, hitting $54.41. The stock had a trading volume of 529,198 shares. The firm has a market cap of $16.28 billion, a PE ratio of 14.40 and a beta of 1.48. Best Buy Co., Inc. has a 52 week low of $37.10 and a 52 week high of $63.32. The company’s 50-day moving average is $58.64 and its 200 day moving average is $53.96.

Best Buy Co. (NYSE:BBY) last issued its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the business earned $0.57 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Equities analysts expect that Best Buy Co., Inc. will post $4.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, September 18th. Best Buy Co.’s payout ratio is 35.88%.

In related news, CEO Hubert Joly sold 14,734 shares of the firm’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 value of $882,861.28. Following the transaction, the chief executive officer now directly owns 540,694 shares of the company’s stock, 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 this hyperlink. Also, insider Kathleen Scarlett sold 10,797 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total value of $566,734.53. Following the completion of the transaction, the insider now directly owns 25,690 shares in the company, valued at $1,348,468.10. The disclosure for this sale can be found here. Insiders sold a total of 163,125 shares of company stock worth $9,003,240 over the last three months. 0.84% of the stock is owned by company insiders.

BBY has been the subject of a number of research analyst reports. Loop Capital reaffirmed a “buy” rating and set a $64.00 price objective (up previously from $58.00) on shares of Best Buy Co. in a research note on Sunday, May 28th. Credit Suisse Group reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $47.00) on shares of Best Buy Co. in a research note on Sunday, May 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $56.00 price objective (up previously from $49.00) on shares of Best Buy Co. in a research note on Sunday, May 28th. Bank of America Corporation reaffirmed a “buy” rating and set a $68.00 price objective (up previously from $58.00) on shares of Best Buy Co. in a research note on Sunday, May 28th. Finally, Jefferies Group LLC raised shares of Best Buy Co. from a “hold” rating to a “buy” rating and upped their price objective for the company from $51.00 to $60.00 in a research note on Tuesday, May 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $58.14.

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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