Strategic Global Advisors LLC raised its holdings in Best Buy Co., Inc. (NYSE:BBY) by 211.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,648 shares of the technology retailer’s stock after buying an additional 14,700 shares during the quarter. Strategic Global Advisors LLC’s holdings in Best Buy Co. were worth $1,241,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FNY Managed Accounts LLC increased its holdings in Best Buy Co. by 18,281.8% in the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after buying an additional 2,011 shares during the period. Huntington National Bank increased its holdings in Best Buy Co. by 18.4% in the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after buying an additional 318 shares during the period. Heritage Trust Co bought a new stake in Best Buy Co. in the 1st quarter valued at $137,000. TrimTabs Asset Management LLC increased its holdings in Best Buy Co. by 89.1% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,819 shares of the technology retailer’s stock valued at $139,000 after buying an additional 1,328 shares during the period. Finally, Exane Derivatives increased its holdings in Best Buy Co. by 65.5% in the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after buying an additional 1,010 shares during the period. 86.46% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Co., Inc. (NYSE BBY) traded up 0.39% on Friday, reaching $58.61. 3,919,815 shares of the company’s stock were exchanged. The company has a market cap of $17.54 billion, a price-to-earnings ratio of 15.51 and a beta of 1.48. The stock’s 50 day moving average is $58.80 and its 200 day moving average is $53.65. 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 released its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.67 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. On average, equities analysts anticipate that Best Buy Co., Inc. will post $4.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy Co.’s dividend payout ratio (DPR) is currently 35.88%.

Several equities research analysts have recently weighed in on the stock. UBS AG reaffirmed a “buy” rating and issued a $51.00 target price (up previously from $47.00) on shares of Best Buy Co. in a report on Wednesday, May 24th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $60.00 target price on shares of Best Buy Co. in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $60.00 target price on shares of Best Buy Co. in a report on Wednesday, August 9th. Loop Capital reaffirmed a “buy” rating and issued a $72.00 target price on shares of Best Buy Co. in a report on Wednesday, August 16th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $56.00 target price (up previously from $49.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $58.92.

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In other news, CFO Corie S. Barry sold 787 shares of the business’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 directly owns 54,159 shares in the company, valued at $3,245,207.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shari L. Ballard sold 2,246 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $59.92, for a total value of $134,580.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,328 shares of company stock worth $8,436,505. Company insiders own 1.21% of the company’s stock.

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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