Best Buy Co., Inc. (BBY) Position Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 35.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,324 shares of the technology retailer’s stock after purchasing an additional 49,099 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Best Buy worth $10,669,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Best Buy by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,828,752 shares of the technology retailer’s stock worth $276,833,000 after purchasing an additional 154,426 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Best Buy by 27.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after purchasing an additional 866,787 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Best Buy by 762.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after purchasing an additional 3,119,700 shares during the period. APG Asset Management N.V. boosted its stake in shares of Best Buy by 27.6% during the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after purchasing an additional 723,500 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Best Buy by 3.5% during the 2nd quarter. LSV Asset Management now owns 2,015,293 shares of the technology retailer’s stock worth $115,536,000 after purchasing an additional 69,000 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Kathleen Scarlett sold 10,797 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total value of $566,734.53. Following the completion of the sale, the insider now owns 25,690 shares in the company, valued at approximately $1,348,468.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shari L. Ballard sold 40,018 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the completion of the sale, the insider now owns 99,304 shares of the company’s stock, valued at approximately $5,578,898.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,098,184 shares of company stock valued at $64,306,062. Company insiders own 0.84% of the company’s stock.

Shares of Best Buy Co., Inc. (NYSE BBY) opened at $62.55 on Tuesday. Best Buy Co., Inc. has a twelve month low of $41.67 and a twelve month high of $63.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The company has a market cap of $17,641.90, a PE ratio of 15.01, a PEG ratio of 1.25 and a beta of 1.40.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.36 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. sell-side analysts expect that Best Buy Co., Inc. will post 4.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.17%. Best Buy’s dividend payout ratio is currently 34.34%.

A number of equities research analysts recently weighed in on the stock. Wedbush set a $32.00 price objective on shares of Best Buy and gave the company a “sell” rating in a report on Wednesday, November 29th. Jefferies Group reiterated a “hold” rating and set a $60.00 price objective on shares of Best Buy in a report on Wednesday, August 9th. Moffett Nathanson assumed coverage on shares of Best Buy in a report on Monday. They set a “sell” rating for the company. Loop Capital reiterated a “buy” rating and set a $72.00 price objective on shares of Best Buy in a report on Wednesday, August 16th. Finally, Oppenheimer reiterated a “hold” rating on shares of Best Buy in a report on Wednesday, September 20th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.81.

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Best Buy Company Profile

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.

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

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