Paloma Partners Management Co lifted its stake in shares of Best Buy Co Inc (NYSE:BBY) by 33.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,238 shares of the technology retailer’s stock after purchasing an additional 10,800 shares during the quarter. Paloma Partners Management Co’s holdings in Best Buy were worth $2,960,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its position in Best Buy by 2.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 277,545 shares of the technology retailer’s stock valued at $19,003,000 after acquiring an additional 5,650 shares in the last quarter. California State Teachers Retirement System increased its stake in Best Buy by 5.6% in the 4th quarter. California State Teachers Retirement System now owns 501,056 shares of the technology retailer’s stock valued at $34,307,000 after buying an additional 26,401 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in Best Buy in the 4th quarter valued at about $10,138,000. Guggenheim Capital LLC increased its stake in Best Buy by 30.5% in the 4th quarter. Guggenheim Capital LLC now owns 764,550 shares of the technology retailer’s stock valued at $52,350,000 after buying an additional 178,774 shares during the last quarter. Finally, Virtue Capital Management LLC purchased a new stake in Best Buy in the 4th quarter valued at about $515,000. 85.73% of the stock is currently owned by institutional investors.
In related news, SVP Mathew Watson sold 990 shares of Best Buy stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $77.21, for a total value of $76,437.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerard R. Vittecoq sold 23,684 shares of Best Buy stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $74.12, for a total transaction of $1,755,458.08. Following the completion of the transaction, the director now owns 40,128 shares of the company’s stock, valued at $2,974,287.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 349,674 shares of company stock valued at $23,428,646. 0.84% of the stock is currently owned by company insiders.
Shares of Best Buy Co Inc (BBY) opened at $71.52 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 1.26. Best Buy Co Inc has a one year low of $43.72 and a one year high of $78.59. The stock has a market cap of $21,062.13, a P/E ratio of 21.80, a PEG ratio of 1.00 and a beta of 1.09.
Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, March 1st. The technology retailer reported $2.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.37. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. The company had revenue of $15.36 billion during the quarter, compared to analyst estimates of $14.52 billion. During the same quarter last year, the business posted $1.93 EPS. Best Buy’s quarterly revenue was up 14.0% compared to the same quarter last year. research analysts expect that Best Buy Co Inc will post 4.97 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 22nd will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, March 21st. This represents a $1.80 annualized dividend and a dividend yield of 2.52%. This is a positive change from Best Buy’s previous quarterly dividend of $0.34. Best Buy’s dividend payout ratio (DPR) is presently 41.46%.
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About Best Buy
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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