Natixis Has $60.03 Million Position in Best Buy Co., Inc. (NYSE:BBY)

Natixis lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 522,111 shares of the technology retailer’s stock after selling 46,329 shares during the quarter. Natixis owned 0.21% of Best Buy worth $60,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in BBY. Concord Wealth Partners acquired a new position in shares of Best Buy in the first quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Best Buy in the first quarter valued at approximately $31,000. MV Capital Management Inc. increased its stake in shares of Best Buy by 64.2% in the second quarter. MV Capital Management Inc. now owns 266 shares of the technology retailer’s stock valued at $31,000 after buying an additional 104 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Best Buy by 37.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 390 shares of the technology retailer’s stock valued at $45,000 after buying an additional 107 shares during the period. Finally, Arkadios Wealth Advisors increased its stake in shares of Best Buy by 359.1% in the second quarter. Arkadios Wealth Advisors now owns 427 shares of the technology retailer’s stock valued at $49,000 after buying an additional 334 shares during the period. 76.10% of the stock is owned by institutional investors.

A number of analysts have weighed in on BBY shares. Telsey Advisory Group increased their target price on shares of Best Buy from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, August 25th. Wells Fargo & Company raised shares of Best Buy to a “buy” rating in a research report on Wednesday, August 25th. Jefferies Financial Group increased their target price on shares of Best Buy from $136.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 25th. Bank of America raised shares of Best Buy to a “buy” rating and increased their target price for the company from $145.00 to $157.00 in a research report on Wednesday, August 25th. Finally, Citigroup raised shares of Best Buy to a “buy” rating and increased their target price for the company from $109.00 to $115.00 in a research report on Wednesday, August 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $127.38.

In other Best Buy news, CFO Matthew M. Bilunas sold 819 shares of the firm’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $113.16, for a total transaction of $92,678.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert L. Bass sold 4,697 shares of Best Buy stock in a transaction on Tuesday, July 27th. The stock was sold at an average price of $114.37, for a total value of $537,195.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,650 shares of company stock worth $644,243. 0.36% of the stock is owned by company insiders.

Shares of BBY opened at $111.17 on Thursday. Best Buy Co., Inc. has a 12-month low of $95.93 and a 12-month high of $128.57. The business’s fifty day moving average is $111.66 and its 200 day moving average is $114.10. The company has a quick ratio of 0.54, a current ratio of 1.16 and a debt-to-equity ratio of 0.29. The stock has a market cap of $27.34 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.35 and a beta of 1.52.

Best Buy (NYSE:BBY) last issued its earnings results on Monday, August 23rd. The technology retailer reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $1.09. Best Buy had a return on equity of 64.85% and a net margin of 4.85%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the business earned $1.71 EPS. Best Buy’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, analysts expect that Best Buy Co., Inc. will post 9.95 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 5th. Investors of record on Tuesday, September 14th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, September 13th. Best Buy’s dividend payout ratio is currently 35.40%.

Best Buy Profile

Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment comprises of the operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.

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

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