Andra AP fonden raised its position in shares of Best Buy Co Inc (NYSE:BBY) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,600 shares of the technology retailer’s stock after purchasing an additional 4,000 shares during the period. Andra AP fonden’s holdings in Best Buy were worth $7,768,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Virtus ETF Advisers LLC purchased a new stake in shares of Best Buy in the second quarter worth $25,000. TRUE Private Wealth Advisors purchased a new stake in shares of Best Buy in the second quarter worth $27,000. Advisors Preferred LLC purchased a new stake in shares of Best Buy in the second quarter worth $27,000. Whittier Trust Co. raised its position in Best Buy by 138.4% during the third quarter. Whittier Trust Co. now owns 553 shares of the technology retailer’s stock valued at $38,000 after purchasing an additional 321 shares in the last quarter. Finally, Rational Advisors LLC raised its position in Best Buy by 168.3% during the third quarter. Rational Advisors LLC now owns 550 shares of the technology retailer’s stock valued at $38,000 after purchasing an additional 345 shares in the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.
In other Best Buy news, Director Hubert Joly sold 407,880 shares of Best Buy stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $66.97, for a total transaction of $27,315,723.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lisa Caputo sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $80.86, for a total value of $808,600.00. Following the completion of the sale, the director now directly owns 53,480 shares in the company, valued at $4,324,392.80. The disclosure for this sale can be found here. Insiders sold 1,924,464 shares of company stock worth $149,780,857 over the last three months. 0.95% of the stock is owned by insiders.
Shares of NYSE BBY traded up $1.07 during trading hours on Wednesday, hitting $79.18. The company’s stock had a trading volume of 3,112,727 shares, compared to its average volume of 2,929,016. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.27 and a current ratio of 1.05. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.14. Best Buy Co Inc has a 12 month low of $47.72 and a 12 month high of $83.63. The business has a 50-day simple moving average of $74.59 and a 200-day simple moving average of $69.93.
Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 26th. The technology retailer reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.10. The company had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.71 billion. Best Buy had a return on equity of 49.43% and a net margin of 3.54%. Best Buy’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. On average, equities research analysts forecast that Best Buy Co Inc will post 5.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.53%. Best Buy’s payout ratio is presently 37.59%.
Best Buy Company 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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