Nomura Holdings Inc. purchased a new position in Best Buy Co., Inc. (NYSE:BBY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,309 shares of the technology retailer’s stock, valued at approximately $1,164,000.

Several other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Best Buy Co. by 0.3% in the second quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock worth $860,000 after purchasing an additional 48 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Best Buy Co. by 1.2% in the second quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock worth $265,000 after purchasing an additional 55 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Best Buy Co. by 1.9% in the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock worth $304,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Best Buy Co. by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after purchasing an additional 163 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of Best Buy Co. by 1.7% in the second quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock worth $576,000 after purchasing an additional 170 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Several research analysts recently weighed in on BBY shares. UBS AG reaffirmed a “buy” rating and set a $57.00 target price (down previously from $60.00) on shares of Best Buy Co. in a research note on Wednesday, September 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $68.00 target price on shares of Best Buy Co. in a research note on Thursday, September 21st. Loop Capital reaffirmed a “buy” rating and set a $72.00 target price on shares of Best Buy Co. in a research note on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $60.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 9th. Finally, Zacks Investment Research cut Best Buy Co. from a “buy” rating to a “hold” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, two have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Best Buy Co. has a consensus rating of “Buy” and a consensus target price of $58.97.

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In related news, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $47,157.04. Following the sale, the chief financial officer now owns 54,159 shares in the company, valued at $3,245,207.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Corie S. Barry sold 3,134 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total value of $179,452.84. The disclosure for this sale can be found here. Insiders have sold 166,259 shares of company stock worth $9,182,693 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Shares of Best Buy Co., Inc. (NYSE:BBY) opened at 54.33 on Tuesday. The company has a 50-day moving average price of $56.20 and a 200 day moving average price of $55.39. The stock has a market capitalization of $16.25 billion, a P/E ratio of 14.38 and a beta of 1.51. Best Buy Co., Inc. has a 52 week low of $37.10 and a 52 week high of $63.32.

Best Buy Co. (NYSE:BBY) last issued its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts forecast that Best Buy Co., Inc. will post $4.06 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $1.36 annualized dividend and a yield of 2.48%. Best Buy Co.’s 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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