BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Best Buy Co Inc (NYSE:BBY) by 43.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,717 shares of the technology retailer’s stock after selling 102,726 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Best Buy were worth $9,898,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bristol John W & Co. Inc. NY bought a new position in Best Buy in the 1st quarter worth approximately $129,000. Squar Milner Financial Services LLC bought a new position in Best Buy in the 2nd quarter worth approximately $201,000. RFG Advisory Group LLC bought a new position in Best Buy in the 2nd quarter worth approximately $210,000. Capital Investment Advisors LLC bought a new position in Best Buy in the 2nd quarter worth approximately $210,000. Finally, Private Capital Group LLC grew its holdings in Best Buy by 850.7% in the 1st quarter. Private Capital Group LLC now owns 2,852 shares of the technology retailer’s stock worth $201,000 after buying an additional 2,552 shares in the last quarter. 82.10% of the stock is owned by institutional investors and hedge funds.

In other news, insider Asheesh Saksena sold 18,570 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $73.69, for a total transaction of $1,368,423.30. Following the completion of the sale, the insider now owns 77,478 shares in the company, valued at approximately $5,709,353.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mathew Watson sold 457 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $72.54, for a total value of $33,150.78. Following the sale, the senior vice president now owns 20,241 shares of the company’s stock, valued at approximately $1,468,282.14. The disclosure for this sale can be found here. Insiders have sold a total of 20,252 shares of company stock valued at $1,485,915 in the last quarter. Insiders own 0.75% of the company’s stock.

A number of equities analysts recently issued reports on BBY shares. Zacks Investment Research raised Best Buy from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a report on Tuesday, July 24th. Loop Capital set a $85.00 price target on Best Buy and gave the company a “buy” rating in a research note on Thursday, May 24th. Barclays reaffirmed a “buy” rating and set a $90.00 price target on shares of Best Buy in a research note on Wednesday. Morgan Stanley reaffirmed a “buy” rating on shares of Best Buy in a research note on Friday, June 8th. Finally, Wedbush set a $48.00 price target on Best Buy and gave the company a “sell” rating in a research note on Sunday, May 27th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $79.35.

Shares of NYSE BBY opened at $78.01 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.56. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.42 and a beta of 0.79. Best Buy Co Inc has a 1 year low of $51.61 and a 1 year high of $84.37.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Best Buy had a return on equity of 36.16% and a net margin of 2.39%. The firm had revenue of $9.38 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company posted $0.69 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. equities research analysts forecast that Best Buy Co Inc will post 5.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Stockholders of record on Tuesday, September 18th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.31%. Best Buy’s dividend payout ratio (DPR) is presently 40.72%.

About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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