Best Buy Co., Inc. (BBY) Shares Bought by Northpointe Capital LLC
Northpointe Capital LLC increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 4.6% during the second quarter, Holdings Channel reports. The institutional investor owned 72,125 shares of the technology retailer’s stock after buying an additional 3,164 shares during the period. Northpointe Capital LLC’s holdings in Best Buy Co. were worth $4,135,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of BBY. Huntington National Bank boosted its position in shares of Best Buy Co. by 18.4% in the second 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. Tompkins Financial Corp acquired a new position in shares of Best Buy Co. during the first quarter worth about $134,000. Advisory Services Network LLC acquired a new position in shares of Best Buy Co. during the first quarter worth about $134,000. Heritage Trust Co acquired a new position in shares of Best Buy Co. during the first quarter worth about $137,000. Finally, TrimTabs Asset Management LLC boosted its position in shares of Best Buy Co. by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,819 shares of the technology retailer’s stock worth $139,000 after buying an additional 1,328 shares during the period. 92.46% of the stock is owned by hedge funds and other institutional investors.
Best Buy Co., Inc. (NYSE:BBY) opened at 58.97 on Wednesday. Best Buy Co., Inc. has a one year low of $32.20 and a one year high of $62.36. The firm’s 50-day moving average is $57.39 and its 200 day moving average is $51.66. The stock has a market cap of $17.98 billion, a P/E ratio of 15.86 and a beta of 1.45.
Best Buy Co. (NYSE:BBY) last issued its quarterly earnings data on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.20. The business had revenue of $8.53 billion for the quarter, compared to analysts’ expectations of $8.28 billion. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. On average, analysts anticipate that Best Buy Co., Inc. will post $3.89 EPS for the current fiscal year.
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A number of brokerages recently issued reports on BBY. UBS AG reissued a “buy” rating and set a $51.00 price target (up from $47.00) on shares of Best Buy Co. in a research report on Wednesday, May 24th. Deutsche Bank AG reissued a “buy” rating and set a $60.00 price target on shares of Best Buy Co. in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and set a $60.00 price target on shares of Best Buy Co. in a research report on Wednesday, August 9th. BidaskClub raised shares of Best Buy Co. from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $56.00 target price (up from $49.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Four analysts have rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the company’s stock. Best Buy Co. presently has an average rating of “Buy” and a consensus target price of $56.76.
In related news, insider Asheesh Saksena sold 22,255 shares of Best Buy Co. stock in a transaction on Friday, June 16th. The shares were sold at an average price of $55.66, for a total value of $1,238,713.30. Following the sale, the insider now owns 82,440 shares of the company’s stock, valued at approximately $4,588,610.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patricia H. Walker sold 9,974 shares of Best Buy Co. stock in a transaction on Friday, May 26th. The shares were sold at an average price of $59.86, for a total transaction of $597,043.64. Following the completion of the sale, the insider now directly owns 24,122 shares in the company, valued at approximately $1,443,942.92. The disclosure for this sale can be found here. Insiders sold a total of 121,917 shares of company stock worth $7,107,375 in the last three months. 0.84% of the stock is owned by corporate insiders.
Best Buy Co. 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.
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