2 weeks Ago By Defense World Staff
DoubleLine ETF Adviser LP purchased a new position in Best Buy Co., Inc. ( NYSE:BBY – Free Report ) during the second quarter, according to its most recent Form 13F filing with the SEC.
The fund purchased 5,373 shares of the technology retailer’s stock, valued at approximately $453,000. Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new position in shares of Best Buy in the first quarter worth $8,676,000.
GAMMA Investing LLC lifted its stake in Best Buy by 78.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock worth $172,000 after purchasing an additional 898 shares in the last quarter.
Bridgewater Associates LP boosted its holdings in shares of Best Buy by 34.9% during the 4th quarter. Bridgewater Associates LP now owns 195,156 shares of the technology retailer’s stock valued at $15,277,000 after purchasing an additional 50,438 shares during the last quarter.
Envestnet Portfolio Solutions Inc. grew its position in shares of Best Buy by 11.4% during the second quarter.
Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock valued at $6,302,000 after purchasing an additional 7,663 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Best Buy by 214.
4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 426,430 shares of the technology retailer’s stock worth $33,381,000 after purchasing an additional 290,812 shares during the last quarter. 80.
96% of the stock is currently owned by institutional investors. Wall Street Analyst Weigh In A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price target on Best Buy from $80.
00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. The Goldman Sachs Group raised their target price on shares of Best Buy from $95.
00 to $116.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Bank of America upped their price target on shares of Best Buy from $70.
00 to $80.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. UBS Group lifted their price objective on shares of Best Buy from $106.
00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co.
upped their target price on shares of Best Buy from $101.00 to $111.00 and gave the company an “overweight” rating in a research report on Friday, August 30th.
One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Moderate Buy” and an average price target of $102.
41. Insider Activity In related news, Chairman Richard M. Schulze sold 691,328 shares of the business’s stock in a transaction that occurred on Thursday, July 18th.
The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88.
Following the completion of the transaction, the chairman now owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink .
In other Best Buy news, Chairman Richard M. Schulze sold 600,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $88.
29, for a total value of $52,974,000.00. Following the completion of the sale, the chairman now owns 14,002,853 shares of the company’s stock, valued at $1,236,311,891.
37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink . Also, Chairman Richard M.
Schulze sold 691,328 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.
88. Following the transaction, the chairman now owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50.
The disclosure for this sale can be found here . In the last ninety days, insiders have sold 1,383,370 shares of company stock worth $122,233,276. Corporate insiders own 0.
59% of the company’s stock. Best Buy Stock Up 2.2 % NYSE:BBY opened at $100.
00 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.
01 and a quick ratio of 0.34. Best Buy Co.
, Inc. has a 1-year low of $62.30 and a 1-year high of $103.
71. The company has a 50-day moving average of $90.80 and a 200 day moving average of $83.
91. The firm has a market cap of $21.47 billion, a PE ratio of 17.
51, a price-to-earnings-growth ratio of 2.56 and a beta of 1.46.
Best Buy ( NYSE:BBY – Get Free Report ) last announced its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.
16 by $0.18. The business had revenue of $9.
29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.
19% and a net margin of 2.96%. The business’s revenue for the quarter was down 3.
1% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS.
As a group, research analysts anticipate that Best Buy Co., Inc. will post 6.
28 EPS for the current fiscal year. Best Buy Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.
94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.
76%. The ex-dividend date of this dividend is Thursday, September 19th. Best Buy’s payout ratio is 65.
85%. Best Buy Profile ( Free Report ) Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.
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