Hanseatic Management Services Inc. grew its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 16.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,489 shares of the technology retailer’s stock after purchasing an additional 2,576 shares during the period. Hanseatic Management Services Inc.’s holdings in Best Buy Co. were worth $1,060,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BBY. Jensen Investment Management Inc. grew its position in shares of Best Buy Co. by 14.9% during the 1st quarter. Jensen Investment Management Inc. now owns 12,060 shares of the technology retailer’s stock worth $593,000 after purchasing an additional 1,560 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Best Buy Co. by 23.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 53,177 shares of the technology retailer’s stock worth $2,614,000 after acquiring an additional 10,149 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Best Buy Co. by 12.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 53,675 shares of the technology retailer’s stock worth $2,635,000 after acquiring an additional 6,032 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Best Buy Co. by 68.0% during the 1st quarter. Pacer Advisors Inc. now owns 8,223 shares of the technology retailer’s stock worth $404,000 after acquiring an additional 3,329 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Best Buy Co. by 3.3% during the 1st quarter. Nordea Investment Management AB now owns 14,952 shares of the technology retailer’s stock worth $735,000 after acquiring an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 88.11% of the company’s stock.

Best Buy Co., Inc. (BBY) traded down 0.09% during midday trading on Friday, hitting $53.90. 4,317,072 shares of the stock traded hands. Best Buy Co., Inc. has a 52 week low of $37.10 and a 52 week high of $63.32. The stock’s 50-day moving average price is $58.64 and its 200 day moving average price is $53.96. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 14.26 and a beta of 1.48.

Best Buy Co. (NYSE:BBY) last announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate 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%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. On average, equities research analysts predict that Best Buy Co., Inc. will post $4.06 EPS for the current year.

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

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

In related news, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $47,157.04. Following the completion of the sale, the chief financial officer now directly owns 54,159 shares in the company, valued at approximately $3,245,207.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hubert Joly sold 106,942 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the sale, the chief executive officer now owns 645,222 shares of the company’s stock, valued at $35,280,738.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,125 shares of company stock valued at $9,003,240. Company insiders own 1.21% of the company’s stock.

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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.

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

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