Guggenheim Capital LLC decreased its position in shares of Best Buy Co Inc (NYSE:BBY) by 8.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 703,257 shares of the technology retailer’s stock after selling 61,293 shares during the quarter. Guggenheim Capital LLC owned 0.25% of Best Buy worth $49,224,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SWS Partners bought a new stake in Best Buy during the fourth quarter worth about $110,000. Bristol John W & Co. Inc. NY bought a new stake in Best Buy during the first quarter worth about $129,000. Trexquant Investment LP bought a new stake in Best Buy during the first quarter worth about $212,000. First Commonwealth Financial Corp PA bought a new stake in Best Buy during the fourth quarter worth about $212,000. Finally, Tower Research Capital LLC TRC lifted its position in Best Buy by 53,583.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,221 shares of the technology retailer’s stock worth $220,000 after purchasing an additional 3,215 shares during the period. 88.29% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Mathew Watson sold 457 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $72.54, for a total value of $33,150.78. Following the completion of the transaction, the senior vice president now owns 20,241 shares of the company’s stock, valued at $1,468,282.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Asheesh Saksena sold 18,570 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $73.69, for a total value of $1,368,423.30. Following the completion of the transaction, the insider now directly owns 77,478 shares of the company’s stock, valued at approximately $5,709,353.82. The disclosure for this sale can be found here. Insiders sold 31,999 shares of company stock valued at $2,344,505 in the last ninety days. 0.75% of the stock is currently owned by insiders.
Best Buy stock opened at $77.06 on Tuesday. Best Buy Co Inc has a 1 year low of $51.61 and a 1 year high of $79.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.56. The company has a market capitalization of $20.90 billion, a PE ratio of 17.43, a PEG ratio of 1.23 and a beta of 0.86.
Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, May 24th. The technology retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.08. Best Buy had a return on equity of 36.16% and a net margin of 2.39%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.75 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. sell-side analysts predict that Best Buy Co Inc will post 5.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Thursday, June 14th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Wednesday, June 13th. Best Buy’s dividend payout ratio is currently 40.72%.
BBY has been the subject of several recent analyst reports. Wedbush reaffirmed a “sell” rating and set a $38.00 price objective on shares of Best Buy in a research report on Monday, February 26th. Piper Jaffray Companies boosted their target price on Best Buy from $68.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Jefferies Financial Group reissued a “buy” rating and set a $74.00 target price (up previously from $60.00) on shares of Best Buy in a research note on Tuesday, February 27th. Loop Capital raised Best Buy to a “buy” rating in a research note on Thursday, March 1st. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $76.00 target price (up previously from $74.00) on shares of Best Buy in a research note on Friday, March 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.41.
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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