UBS Asset Management Americas Inc. boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,480,976 shares of the technology retailer’s stock after acquiring an additional 9,075 shares during the period. UBS Asset Management Americas Inc. owned 0.49% of Best Buy Co. worth $84,904,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Cleararc Capital Inc. grew its stake in Best Buy Co. by 0.3% during the first quarter. Cleararc Capital Inc. now owns 6,644 shares of the technology retailer’s stock valued at $327,000 after acquiring an additional 18 shares in the last quarter. CENTRAL TRUST Co grew its stake in Best Buy Co. by 1.9% during the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock valued at $304,000 after acquiring an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Best Buy Co. by 6.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after acquiring an additional 163 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Best Buy Co. by 1.7% during the second quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock valued at $576,000 after acquiring an additional 170 shares in the last quarter. Finally, Financial Advisors Network Inc. grew its stake in Best Buy Co. by 2.3% during the second quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock valued at $433,000 after acquiring an additional 172 shares in the last quarter. 88.11% of the stock is owned by institutional investors.

In other Best Buy Co. news, VP Mathew Watson sold 1,129 shares of Best Buy Co. stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $61,733.72. Following the completion of the transaction, the vice president now directly owns 17,764 shares of the company’s stock, valued at $971,335.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shari L. Ballard sold 9,778 shares of Best Buy Co. stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $534,661.04. Following the transaction, the insider now directly owns 84,613 shares of the company’s stock, valued at $4,626,638.84. The disclosure for this sale can be found here. Insiders have sold 152,328 shares of company stock valued at $8,436,505 over the last ninety days. 1.21% of the stock is owned by insiders.

Shares of Best Buy Co., Inc. (NYSE:BBY) opened at 53.95 on Friday. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 14.28 and a beta of 1.48. Best Buy Co., Inc. has a 12-month low of $37.10 and a 12-month high of $63.32. The company’s 50-day moving average is $58.64 and its 200-day moving average is $53.96.

Best Buy Co. (NYSE:BBY) last posted its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. Best Buy Co.’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Analysts predict that Best Buy Co., Inc. will post $4.06 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, September 18th. Best Buy Co.’s payout ratio is 35.88%.

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BBY has been the subject of several recent analyst reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Best Buy Co. in a research note on Tuesday, August 29th. Barclays PLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Best Buy Co. in a research note on Monday, August 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $58.00 price objective (down previously from $60.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Royal Bank Of Canada boosted their price objective on shares of Best Buy Co. from $60.00 to $61.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 30th. Finally, UBS AG reaffirmed a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Best Buy Co. currently has a consensus rating of “Buy” and a consensus target price of $58.14.

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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