Vanguard Group Inc. decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,220,643 shares of the technology retailer’s stock after selling 393,011 shares during the period. Vanguard Group Inc. owned about 10.57% of Best Buy Co. worth $1,847,209,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FNY Managed Accounts LLC boosted its position in shares of Best Buy Co. by 18,281.8% during the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after acquiring an additional 2,011 shares in the last quarter. Huntington National Bank boosted its position in shares of Best Buy Co. by 18.4% during the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after acquiring an additional 318 shares in the last quarter. Exane Derivatives boosted its position in shares of Best Buy Co. by 65.5% during the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after acquiring an additional 1,010 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Best Buy Co. during the 1st quarter worth approximately $147,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Best Buy Co. by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 88.11% of the company’s stock.

BBY has been the subject of several research reports. UBS AG reissued 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. Piper Jaffray Companies reissued a “buy” rating and issued a $68.00 price objective on shares of Best Buy Co. in a research note on Thursday. ValuEngine downgraded shares of Best Buy Co. from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Bank of America Corporation reissued a “buy” rating and issued a $68.00 price objective (up previously from $58.00) on shares of Best Buy Co. in a research note on Sunday, May 28th. Finally, Loop Capital reissued a “buy” rating and issued a $72.00 price objective on shares of Best Buy Co. in a research note on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $58.14.

Shares of Best Buy Co., Inc. (NYSE BBY) traded up 1.6087% on Friday, hitting $54.8179. 949,468 shares of the stock were exchanged. Best Buy Co., Inc. has a 12 month low of $37.10 and a 12 month high of $63.32. The company has a 50-day moving average price of $58.64 and a 200 day moving average price of $53.96. The company has a market cap of $16.40 billion, a PE ratio of 14.5059 and a beta of 1.48.

Best Buy Co. (NYSE:BBY) last released its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. The firm 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 company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. Equities analysts forecast that Best Buy Co., Inc. will post $4.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, September 18th. Best Buy Co.’s dividend payout ratio is presently 35.88%.

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In related news, VP Mathew Watson sold 1,129 shares of the 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 sale, the vice president now directly owns 17,764 shares of the company’s stock, valued at approximately $971,335.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hubert Joly sold 106,942 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the sale, the chief executive officer now directly owns 645,222 shares in the company, valued at $35,280,738.96. The disclosure for this sale can be found here. Insiders sold a total of 152,328 shares of company stock worth $8,436,505 over the last ninety days. 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.

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

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