Barings LLC Has $3,042,000 Stake in Best Buy Co., Inc. (BBY)
Barings LLC maintained its position in shares of Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,900 shares of the technology retailer’s stock at the end of the second quarter. Barings LLC’s holdings in Best Buy Co. were worth $3,042,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of BBY. BlackRock Inc. boosted its position 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 worth $986,174,000 after purchasing an additional 19,040,478 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Best Buy Co. in the 1st quarter worth $265,777,000. Renaissance Technologies LLC boosted its position in shares of Best Buy Co. by 762.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after purchasing an additional 3,119,700 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Best Buy Co. by 78.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,743,204 shares of the technology retailer’s stock worth $183,979,000 after purchasing an additional 1,645,245 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Best Buy Co. by 4.0% during the first quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock worth $1,602,962,000 after acquiring an additional 1,241,888 shares in the last quarter. Institutional investors and hedge funds own 88.11% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This news story was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/10/06/barings-llc-has-3042000-stake-in-best-buy-co-inc-bby.html.
In related news, insider Shari L. Ballard sold 2,246 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $134,580.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hubert Joly sold 14,734 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $882,861.28. Following the transaction, the chief executive officer now owns 540,694 shares in the company, valued at approximately $32,398,384.48. The disclosure for this sale can be found here. Insiders sold 166,259 shares of company stock valued at $9,182,693 over the last three months. 1.21% of the stock is currently owned by insiders.
Several research firms have weighed in on BBY. Jefferies Group LLC reiterated a “buy” rating and set a $60.00 target price on shares of Best Buy Co. in a report on Thursday, July 6th. Loop Capital restated a “buy” rating and issued a $72.00 price target on shares of Best Buy Co. in a report on Wednesday, August 16th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Best Buy Co. in a report on Tuesday, August 29th. Royal Bank Of Canada boosted their price target on Best Buy Co. from $60.00 to $61.00 and gave the company a “sector perform” rating in a report on Wednesday, August 30th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $58.00 price target (down from $60.00) on shares of Best Buy Co. in a report on Thursday, August 31st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $58.79.
Shares of Best Buy Co., Inc. (BBY) traded up 1.783% during midday trading on Friday, hitting $58.515. The company had a trading volume of 463,966 shares. The company’s 50-day moving average price is $57.08 and its 200 day moving average price is $54.77. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 15.484 and a beta of 1.51. 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 data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the firm posted $0.57 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts predict that Best Buy Co., Inc. will post $4.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Monday, September 18th. 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.
Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY).
Receive News & Stock Ratings for Best Buy Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. Inc. and related stocks with our FREE daily email newsletter.