Ontario Teachers Pension Plan Board lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 26.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,973 shares of the technology retailer’s stock after selling 21,484 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Best Buy Co. were worth $3,438,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Independence Advisors LLC purchased a new position in Best Buy Co. in the 2nd quarter worth about $284,000. FNY Managed Accounts LLC increased its stake in Best Buy Co. by 18,281.8% in the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after buying an additional 2,011 shares during the period. Huntington National Bank increased its stake in Best Buy Co. by 18.4% in the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after buying an additional 318 shares during the period. Exane Derivatives increased its stake in Best Buy Co. by 65.5% in the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after buying an additional 1,010 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Best Buy Co. by 6.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after buying an additional 163 shares during the period. 88.11% of the stock is currently owned by institutional investors.

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Several research analysts have issued reports on the stock. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a report on Tuesday, August 29th. BidaskClub upgraded shares of Best Buy Co. from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Barclays PLC reiterated a “buy” rating and set a $65.00 target price on shares of Best Buy Co. in a report on Monday, August 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 target price on shares of Best Buy Co. in a report on Wednesday, August 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $60.00 target price on shares of Best Buy Co. in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $58.14.

Shares of Best Buy Co., Inc. (NYSE BBY) opened at 56.96 on Friday. The firm has a market capitalization of $17.04 billion, a PE ratio of 15.07 and a beta of 1.48. Best Buy Co., Inc. has a 1-year low of $37.10 and a 1-year high of $63.32. The company has a 50-day moving average of $58.64 and a 200-day moving average of $53.96.

Best Buy Co. (NYSE:BBY) last announced its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.67 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 earnings per share. Equities research analysts predict that Best Buy Co., Inc. will post $4.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, September 18th. Best Buy Co.’s payout ratio is currently 35.88%.

In other news, CEO Hubert Joly sold 106,942 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total value of $5,847,588.56. Following the completion of the sale, the chief executive officer now directly owns 645,222 shares of the company’s stock, valued at $35,280,738.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Corie S. Barry sold 787 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $47,157.04. Following the completion of the sale, the chief financial officer now directly owns 54,159 shares of the company’s stock, valued at $3,245,207.28. The disclosure for this sale can be found here. Insiders sold 163,125 shares of company stock valued at $9,003,240 over the last three months. Corporate insiders own 1.21% of the company’s stock.

About Best Buy Co.

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.

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

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