New York State Common Retirement Fund cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 685,970 shares of the technology retailer’s stock after selling 72,009 shares during the quarter. New York State Common Retirement Fund owned approximately 0.22% of Best Buy Co. worth $39,327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Best Buy Co. by 23.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 53,177 shares of the technology retailer’s stock valued at $2,614,000 after purchasing an additional 10,149 shares during the period. Envestnet Asset Management Inc. increased its position in Best Buy Co. by 12.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,675 shares of the technology retailer’s stock valued at $2,635,000 after buying an additional 6,032 shares in the last quarter. Pacer Advisors Inc. increased its position in Best Buy Co. by 68.0% in the 1st quarter. Pacer Advisors Inc. now owns 8,223 shares of the technology retailer’s stock valued at $404,000 after buying an additional 3,329 shares in the last quarter. Nordea Investment Management AB increased its position in Best Buy Co. by 3.3% in the 1st quarter. Nordea Investment Management AB now owns 14,952 shares of the technology retailer’s stock valued at $735,000 after buying an additional 477 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Best Buy Co. by 11.2% in the 1st quarter. Private Advisor Group LLC now owns 6,029 shares of the technology retailer’s stock valued at $289,000 after buying an additional 609 shares in the last quarter. 88.11% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This report was published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The original version of this report can be read at https://www.watchlistnews.com/new-york-state-common-retirement-fund-sells-72009-shares-of-best-buy-co-inc-bby/1584595.html.

In related news, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $47,157.04. Following the transaction, the chief financial officer now directly owns 54,159 shares in the company, valued at approximately $3,245,207.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathleen Scarlett sold 10,797 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total transaction of $566,734.53. Following the transaction, the insider now owns 25,690 shares in the company, valued at $1,348,468.10. The disclosure for this sale can be found here. Insiders have sold a total of 163,125 shares of company stock worth $9,003,240 over the last quarter. 1.21% of the stock is currently owned by insiders.

BBY has been the subject of a number of research analyst reports. BidaskClub raised Best Buy Co. from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. SunTrust Banks, Inc. set a $70.00 target price on Best Buy Co. and gave the company a “buy” rating in a research report on Saturday, July 22nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Best Buy Co. in a research report on Sunday, May 28th. Loop Capital reaffirmed a “buy” rating and issued a $72.00 target price on shares of Best Buy Co. in a research report on Monday, July 10th. Finally, Piper Jaffray Companies set a $70.00 target price on Best Buy Co. and gave the company a “buy” rating in a research report on Monday, June 26th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.14.

Shares of Best Buy Co., Inc. (NYSE:BBY) opened at 53.90 on Friday. Best Buy Co., Inc. has a 12-month low of $37.10 and a 12-month high of $63.32. The stock’s 50 day moving average is $58.64 and its 200-day moving average is $53.96. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 14.26 and a beta of 1.48.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.34 per share. The ex-dividend date is Monday, September 18th. This represents a $1.36 annualized dividend and a yield of 2.52%. Best Buy Co.’s payout ratio is 35.88%.

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.

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

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.