SG Americas Securities LLC Boosts Stake in Best Buy Co Inc (NYSE:BBY)

SG Americas Securities LLC lifted its holdings in Best Buy Co Inc (NYSE:BBY) by 1,141.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,790 shares of the technology retailer’s stock after purchasing an additional 108,305 shares during the quarter. SG Americas Securities LLC’s holdings in Best Buy were worth $8,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. First Hawaiian Bank raised its position in Best Buy by 12.6% in the second quarter. First Hawaiian Bank now owns 7,084 shares of the technology retailer’s stock valued at $494,000 after purchasing an additional 792 shares during the period. Allianz Asset Management GmbH raised its holdings in Best Buy by 15.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,251,427 shares of the technology retailer’s stock worth $87,262,000 after buying an additional 165,350 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in Best Buy by 93.1% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 100,371 shares of the technology retailer’s stock worth $6,968,000 after buying an additional 48,389 shares during the period. BlackRock Inc. raised its holdings in Best Buy by 4.4% during the 2nd quarter. BlackRock Inc. now owns 18,179,382 shares of the technology retailer’s stock worth $1,267,648,000 after buying an additional 772,762 shares during the period. Finally, Hammer Asset Management LLC acquired a new stake in Best Buy during the 2nd quarter worth approximately $1,388,000. Hedge funds and other institutional investors own 78.60% of the company’s stock.

In other news, CAO Mathew Watson sold 1,000 shares of Best Buy stock in a transaction on Friday, September 27th. The stock was sold at an average price of $68.03, for a total transaction of $68,030.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hubert Joly sold 407,880 shares of Best Buy stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $66.97, for a total value of $27,315,723.60. The disclosure for this sale can be found here. Insiders have sold 408,913 shares of company stock valued at $27,386,014 in the last three months. Insiders own 0.95% of the company’s stock.

BBY stock traded up $0.84 during midday trading on Friday, reaching $76.85. 1,898,931 shares of the company were exchanged, compared to its average volume of 2,872,394. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.08 and a quick ratio of 0.39. The business has a 50-day moving average price of $70.00 and a two-hundred day moving average price of $69.43. Best Buy Co Inc has a one year low of $47.72 and a one year high of $78.53. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.09. Best Buy had a net margin of 3.52% and a return on equity of 48.56%. The firm had revenue of $9.54 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that Best Buy Co Inc will post 5.75 earnings per share for the current fiscal year.

Several brokerages have commented on BBY. Jefferies Financial Group set a $80.00 target price on shares of Best Buy and gave the stock a “buy” rating in a report on Tuesday, September 24th. Bank of America set a $75.00 price objective on shares of Best Buy and gave the company a “hold” rating in a report on Monday, August 26th. Zacks Investment Research downgraded shares of Best Buy from a “hold” rating to a “sell” rating and set a $79.00 price objective on the stock. in a report on Thursday. Morgan Stanley lowered their price objective on shares of Best Buy from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Finally, ValuEngine upgraded shares of Best Buy from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $78.28.

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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

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

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