Best Buy Co., Inc. (BBY) Holdings Boosted by FNY Managed Accounts LLC
FNY Managed Accounts LLC grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 18,281.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,000 shares of the technology retailer’s stock after purchasing an additional 2,011 shares during the quarter. Best Buy Co. comprises about 1.1% of FNY Managed Accounts LLC’s investment portfolio, making the stock its 29th largest position. FNY Managed Accounts LLC’s holdings in Best Buy Co. were worth $114,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of BBY. BlackRock Inc. boosted its stake in Best Buy Co. by 1,859.1% in the first 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 in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Best Buy Co. in the first quarter worth $265,777,000. Massachusetts Financial Services Co. MA boosted its stake in Best Buy Co. by 78.4% in the first 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 in the last quarter. Vanguard Group Inc. boosted its stake in Best Buy Co. by 4.0% in the first quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock worth $1,602,962,000 after purchasing an additional 1,241,888 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Best Buy Co. by 6.5% in the first quarter. JPMorgan Chase & Co. now owns 14,724,133 shares of the technology retailer’s stock worth $723,692,000 after purchasing an additional 898,300 shares in the last quarter. 86.46% of the stock is currently owned by institutional investors.
In other Best Buy Co. news, insider Shari L. Ballard sold 2,246 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Asheesh Saksena sold 18,706 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $57.08, for a total transaction of $1,067,738.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,289 shares of company stock valued at $10,742,957. Company insiders own 0.84% of the company’s stock.
Shares of Best Buy Co., Inc. (NYSE:BBY) traded up 0.59% during midday trading on Monday, hitting $55.83. The company’s stock had a trading volume of 1,005,871 shares. Best Buy Co., Inc. has a 1-year low of $36.51 and a 1-year high of $63.32. The company has a 50-day moving average price of $58.60 and a 200 day moving average price of $53.33. The company has a market cap of $16.98 billion, a P/E ratio of 14.77 and a beta of 1.48.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts predict that Best Buy Co., Inc. will post $4.05 EPS for the current 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 given a dividend of $0.34 per share. The ex-dividend date is Monday, September 18th. This represents a $1.36 annualized dividend and a yield of 2.45%. Best Buy Co.’s payout ratio is 35.88%.
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A number of equities analysts have commented on BBY shares. Loop Capital reissued a “buy” rating and issued a $72.00 price objective (up previously from $64.00) on shares of Best Buy Co. in a research note on Monday, June 5th. Barclays PLC reissued a “buy” rating and issued a $65.00 price objective on shares of Best Buy Co. in a research note on Monday, August 28th. Deutsche Bank AG reissued a “buy” rating and issued a $58.00 price objective (down previously from $60.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Morgan Stanley raised Best Buy Co. from an “equal weight” rating to a “buy” rating and boosted their price objective for the stock from $43.00 to $60.00 in a research note on Tuesday, May 30th. Finally, BidaskClub raised Best Buy Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $58.92.
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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