Vident Investment Advisory LLC Has $4.30 Million Holdings in Best Buy Co., Inc. (BBY)

Vident Investment Advisory LLC raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 33.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,556 shares of the technology retailer’s stock after buying an additional 18,851 shares during the period. Vident Investment Advisory LLC’s holdings in Best Buy were worth $4,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FNY Managed Accounts LLC boosted its position in Best Buy by 18,281.8% during the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after buying an additional 2,011 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Best Buy by 6.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after buying an additional 163 shares during the period. Smithfield Trust Co. purchased a new stake in Best Buy during the third quarter valued at about $178,000. Keybank National Association OH purchased a new stake in Best Buy during the second quarter valued at about $200,000. Finally, Pax World Management LLC purchased a new stake in Best Buy during the second quarter valued at about $225,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

In related news, major shareholder Richard M. Schulze sold 475,000 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $62.68, for a total value of $29,773,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Richard M. Schulze sold 50,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $61.34, for a total transaction of $3,067,000.00. Following the completion of the transaction, the insider now directly owns 1,732,500 shares of the company’s stock, valued at $106,271,550. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,623,184 shares of company stock valued at $157,384,562. 1.21% of the stock is owned by insiders.

BBY has been the subject of a number of analyst reports. Loop Capital reiterated a “buy” rating and set a $72.00 target price on shares of Best Buy in a report on Wednesday, August 16th. Jefferies Group reiterated a “hold” rating and set a $60.00 target price on shares of Best Buy in a report on Tuesday, August 22nd. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 target price on shares of Best Buy in a report on Wednesday, August 23rd. BidaskClub upgraded shares of Best Buy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Finally, Barclays reiterated a “buy” rating and set a $65.00 target price on shares of Best Buy in a report on Monday, August 28th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Best Buy currently has a consensus rating of “Hold” and an average target price of $58.81.

Best Buy Co., Inc. (NYSE BBY) opened at $63.79 on Friday. Best Buy Co., Inc. has a one year low of $41.67 and a one year high of $64.12. The stock has a market cap of $17,975.16, a PE ratio of 15.30, a P/E/G ratio of 1.28 and a beta of 1.40. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. Best Buy’s revenue was up 4.2% on a year-over-year basis. analysts anticipate that Best Buy Co., Inc. will post 4.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Wednesday, December 6th. Best Buy’s payout ratio is currently 34.34%.

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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.

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

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