Janus Henderson Group PLC raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 128.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 585,527 shares of the technology retailer’s stock after purchasing an additional 328,907 shares during the quarter. Janus Henderson Group PLC owned about 0.19% of Best Buy Co. worth $33,570,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BBY. OppenheimerFunds Inc. increased its stake in Best Buy Co. by 17.8% during the 1st quarter. OppenheimerFunds Inc. now owns 115,409 shares of the technology retailer’s stock valued at $5,672,000 after purchasing an additional 17,436 shares in the last quarter. Wellington Management Group LLP increased its stake in Best Buy Co. by 34.8% during the 1st quarter. Wellington Management Group LLP now owns 423,402 shares of the technology retailer’s stock valued at $20,811,000 after purchasing an additional 109,394 shares in the last quarter. Ngam Advisors L.P. increased its stake in Best Buy Co. by 44.4% during the 1st quarter. Ngam Advisors L.P. now owns 26,405 shares of the technology retailer’s stock valued at $1,298,000 after purchasing an additional 8,121 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in Best Buy Co. by 4.1% during the 1st quarter. Thrivent Financial For Lutherans now owns 9,885 shares of the technology retailer’s stock valued at $486,000 after purchasing an additional 390 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Best Buy Co. by 41.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 6,946 shares of the technology retailer’s stock valued at $341,000 after purchasing an additional 2,038 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

In other news, CFO Corie S. Barry sold 3,134 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $57.26, for a total transaction of $179,452.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Hubert Joly sold 106,942 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the transaction, the chief executive officer now directly owns 645,222 shares in the company, valued at $35,280,738.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,259 shares of company stock worth $9,182,693. Corporate insiders own 0.84% of the company’s stock.

A number of brokerages have issued reports on BBY. Jefferies Group LLC restated a “buy” rating and set a $60.00 price target on shares of Best Buy Co. in a research note on Thursday, July 6th. Loop Capital restated a “buy” rating and set a $72.00 price target on shares of Best Buy Co. in a research note on Wednesday, August 16th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Best Buy Co. in a research note on Tuesday, August 29th. Royal Bank Of Canada upped their price target 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, Deutsche Bank AG restated a “buy” rating and set a $58.00 price target (down previously from $60.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, two have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Best Buy Co. presently has a consensus rating of “Buy” and an average target price of $58.97.

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Best Buy Co., Inc. (NYSE:BBY) opened at 54.91 on Tuesday. Best Buy Co., Inc. has a 12-month low of $37.10 and a 12-month high of $63.32. The firm’s 50-day moving average is $56.20 and its 200 day moving average is $55.39. The stock has a market capitalization of $16.43 billion, a P/E ratio of 14.53 and a beta of 1.51.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results 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. 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 for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the prior year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts expect that Best Buy Co., Inc. will post $4.06 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th were paid a dividend of $0.34 per share. The ex-dividend date was Monday, September 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.48%. Best Buy Co.’s dividend payout ratio (DPR) is presently 35.88%.

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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