Global Financial Private Capital LLC trimmed its stake in shares of Best Buy Co Inc (NYSE:BBY) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,622 shares of the technology retailer’s stock after selling 4,953 shares during the period. Global Financial Private Capital LLC’s holdings in Best Buy were worth $3,466,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. NuWave Investment Management LLC lifted its holdings in Best Buy by 7,828.4% during the third quarter. NuWave Investment Management LLC now owns 5,312 shares of the technology retailer’s stock valued at $421,000 after purchasing an additional 5,245 shares in the last quarter. Andesa Financial Management Inc. purchased a new position in shares of Best Buy in the second quarter worth about $424,000. Sawtooth Solutions LLC purchased a new position in shares of Best Buy in the third quarter worth about $267,000. Schroder Investment Management Group lifted its stake in shares of Best Buy by 1.1% in the second quarter. Schroder Investment Management Group now owns 65,132 shares of the technology retailer’s stock worth $4,884,000 after buying an additional 725 shares in the last quarter. Finally, Lido Advisors LLC purchased a new position in shares of Best Buy in the second quarter worth about $299,000. 85.32% of the stock is currently owned by institutional investors and hedge funds.
In related news, General Counsel Keith J. Nelsen sold 33,473 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $80.38, for a total transaction of $2,690,559.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patricia H. Walker sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $77.66, for a total transaction of $388,300.00. Following the sale, the insider now owns 21,698 shares of the company’s stock, valued at $1,685,066.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,711 shares of company stock valued at $6,081,426. 0.75% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on the stock. Raymond James raised their price target on shares of Best Buy from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Credit Suisse Group raised their price target on shares of Best Buy from $74.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Wedbush set a $65.00 price target on shares of Best Buy and gave the stock a “sell” rating in a research note on Thursday, August 23rd. Deutsche Bank raised their price target on shares of Best Buy from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Finally, Jefferies Financial Group assumed coverage on shares of Best Buy in a research note on Tuesday, August 21st. They issued a “hold” rating and a $79.00 price target on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $80.63.
Best Buy stock opened at $67.79 on Friday. Best Buy Co Inc has a 12-month low of $52.92 and a 12-month high of $84.37. The stock has a market cap of $19.99 billion, a P/E ratio of 15.34, a PEG ratio of 1.12 and a beta of 1.01. The company has a quick ratio of 0.52, a current ratio of 1.21 and a debt-to-equity ratio of 0.25.
Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.08. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. The firm had revenue of $9.38 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the business earned $0.69 earnings per share. Best Buy’s revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts predict that Best Buy Co Inc will post 5.11 earnings per share for the current year.
Best Buy Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.
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