Two Sigma Advisers LP trimmed its position in Best Buy Co Inc (NYSE:BBY) by 22.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,262,229 shares of the technology retailer’s stock after selling 661,189 shares during the quarter. Two Sigma Advisers LP’s holdings in Best Buy were worth $154,895,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Best Buy in the 3rd quarter valued at $139,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Best Buy by 232.8% in the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock valued at $139,000 after purchasing an additional 1,420 shares in the last quarter. Squar Milner Financial Services LLC acquired a new stake in shares of Best Buy in the 4th quarter valued at $201,000. Harbour Capital Advisors LLC acquired a new stake in shares of Best Buy in the 4th quarter valued at $205,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Best Buy by 53,583.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,221 shares of the technology retailer’s stock valued at $220,000 after purchasing an additional 3,215 shares in the last quarter. Institutional investors and hedge funds own 85.73% of the company’s stock.
In other Best Buy news, Director Gerard R. Vittecoq sold 23,684 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 40,128 shares of the company’s stock, valued at approximately $2,974,287.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Richard M. Schulze sold 200,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $64.14, for a total transaction of $12,828,000.00. Following the transaction, the insider now directly owns 1,732,500 shares in the company, valued at $111,122,550. The disclosure for this sale can be found here. Insiders have sold a total of 549,674 shares of company stock worth $36,256,646 over the last three months. 0.84% of the stock is currently owned by insiders.
Shares of Best Buy Co Inc (NYSE:BBY) traded down $0.40 during trading on Monday, reaching $73.42. 265,447 shares of the company’s stock traded hands, compared to its average volume of 3,729,160. Best Buy Co Inc has a 52 week low of $43.72 and a 52 week high of $78.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. The stock has a market cap of $21,579.54, a P/E ratio of 16.44, a P/E/G ratio of 1.02 and a beta of 1.09.
Best Buy (NYSE:BBY) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $14.52 billion. During the same period last year, the firm posted $1.93 EPS. Best Buy’s revenue for the quarter was up 14.0% on a year-over-year basis. sell-side analysts anticipate that Best Buy Co Inc will post 4.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 22nd will be given a dividend of $0.45 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.34. This represents a $1.80 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, March 21st. Best Buy’s dividend payout ratio (DPR) is presently 41.46%.
A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group restated a “hold” rating and issued a $74.00 price objective (up from $60.00) on shares of Best Buy in a report on Monday, March 5th. Morgan Stanley restated an “equal weight” rating and issued a $74.00 price objective (up from $66.00) on shares of Best Buy in a report on Friday, March 2nd. Telsey Advisory Group reiterated a “market perform” rating and set a $76.00 price target (up from $74.00) on shares of Best Buy in a research note on Friday, March 2nd. Wedbush reiterated an “underperform” rating and set a $48.00 price target (up from $45.00) on shares of Best Buy in a research note on Monday, March 5th. Finally, Jefferies Group reiterated a “buy” rating and set a $74.00 price target (up from $60.00) on shares of Best Buy in a research note on Tuesday, February 27th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $69.25.
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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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