Best Buy Co., Inc. (BBY) Holdings Reduced by Green Square Capital LLC
Green Square Capital LLC reduced its holdings in Best Buy Co., Inc. (NYSE:BBY) by 13.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,867 shares of the technology retailer’s stock after selling 17,072 shares during the period. Green Square Capital LLC’s holdings in Best Buy were worth $6,123,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Spectrum Management Group Inc. increased its position in Best Buy by 25.7% in the 2nd quarter. Spectrum Management Group Inc. now owns 21,515 shares of the technology retailer’s stock worth $1,233,000 after buying an additional 4,405 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in Best Buy by 18.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 83,623 shares of the technology retailer’s stock worth $4,794,000 after buying an additional 13,150 shares during the period. Viking Fund Management LLC increased its position in Best Buy by 66.7% in the 3rd quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock worth $570,000 after buying an additional 4,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Best Buy by 23.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,179 shares of the technology retailer’s stock worth $10,330,000 after buying an additional 34,345 shares during the period. Finally, Denali Advisors LLC bought a new position in Best Buy in the 3rd quarter worth approximately $740,000. 88.89% of the stock is currently owned by institutional investors.
In other Best Buy news, CFO Corie S. Barry sold 3,134 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total value of $179,452.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total value of $58,800,000.00. The disclosure for this sale can be found here. Insiders sold 2,623,184 shares of company stock worth $157,384,562 over the last quarter. Company insiders own 0.84% of the company’s stock.
BBY has been the topic of several recent analyst reports. BidaskClub raised Best Buy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, October 10th. Jefferies Group restated a “hold” rating and set a $60.00 price objective on shares of Best Buy in a research report on Monday, November 13th. They noted that the move was a valuation call. Loop Capital restated a “buy” rating and set a $72.00 price objective on shares of Best Buy in a research report on Thursday, August 31st. Finally, Wedbush set a $33.00 price objective on Best Buy and gave the company a “sell” rating in a research report on Monday, November 13th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given 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 $58.81.
Shares of Best Buy Co., Inc. (NYSE BBY) opened at $63.80 on Tuesday. Best Buy Co., Inc. has a 1 year low of $41.67 and a 1 year high of $64.12. The firm has a market capitalization of $18,647.51, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52.
Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. equities research analysts anticipate that Best Buy Co., Inc. will post 4.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be given 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 dividend payout ratio (DPR) is 34.34%.
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.
Receive News & Ratings for Best Buy Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.