Commerce Bank purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,114 shares of the technology retailer’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BBY. FNY Managed Accounts LLC boosted its holdings in shares of 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 valued at $114,000 after buying an additional 2,011 shares during the period. Huntington National Bank grew its stake in shares of 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 purchasing an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 purchasing an additional 163 shares during the last quarter. Smithfield Trust Co. acquired a new position in shares of Best Buy Co. in the 3rd quarter worth approximately $178,000. Finally, Keybank National Association OH acquired a new position in shares of Best Buy Co. in the 2nd quarter worth approximately $200,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Shares of Best Buy Co., Inc. (BBY) opened at $56.06 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Best Buy Co., Inc. has a fifty-two week low of $41.67 and a fifty-two week high of $63.32. The firm has a market cap of $16,859.05, a PE ratio of 14.02, a PEG ratio of 1.17 and a beta of 1.42.

Best Buy Co. (NYSE:BBY) last posted its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. Best Buy Co. had a net margin of 3.09% and a return on equity of 28.46%. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. research analysts expect that Best Buy Co., Inc. will post 4.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, December 6th. Best Buy Co.’s payout ratio is 34.34%.

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In related news, VP Mathew Watson sold 1,129 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $61,733.72. Following the transaction, the vice president now owns 17,764 shares in the company, valued at approximately $971,335.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Corie S. Barry sold 3,134 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total transaction of $179,452.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,799 shares of company stock worth $7,956,730. 0.84% of the stock is owned by insiders.

Several brokerages have recently issued reports on BBY. UBS AG reaffirmed a “buy” rating and issued a $57.00 price objective (down previously from $60.00) on shares of Best Buy Co. in a research note on Wednesday, September 20th. Piper Jaffray Companies reissued a “buy” rating and issued a $68.00 target price on shares of Best Buy Co. in a research report on Thursday, September 21st. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Best Buy Co. in a research report on Thursday, November 16th. Jefferies Group LLC reissued a “hold” rating and issued a $60.00 target price on shares of Best Buy Co. in a research report on Wednesday, August 9th. Finally, Loop Capital reissued a “buy” rating and issued a $72.00 target price on shares of Best Buy Co. in a research report on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Best Buy Co. presently has an average rating of “Buy” and an average target price of $58.86.

Best Buy Co. 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.

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

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