World Asset Management Inc raised its position in shares of Best Buy Co Inc (NYSE:BBY) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,867 shares of the technology retailer’s stock after purchasing an additional 490 shares during the period. World Asset Management Inc’s holdings in Best Buy were worth $1,385,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB boosted its stake in Best Buy by 43.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 61,207 shares of the technology retailer’s stock valued at $4,349,000 after purchasing an additional 18,575 shares during the period. Stormborn Capital Management LLC acquired a new position in Best Buy during the 1st quarter valued at about $3,553,000. Conning Inc. boosted its stake in Best Buy by 5,774.3% during the 1st quarter. Conning Inc. now owns 640,709 shares of the technology retailer’s stock valued at $45,529,000 after purchasing an additional 629,802 shares during the period. Polianta Ltd acquired a new position in Best Buy during the 1st quarter valued at about $1,122,000. Finally, Allstate Corp acquired a new position in Best Buy during the 1st quarter valued at about $377,000. 78.39% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Richard M. Schulze sold 51,265 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $75.01, for a total transaction of $3,845,387.65. Following the completion of the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at $129,954,825. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kathleen Scarlett sold 2,694 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $64.33, for a total transaction of $173,305.02. Following the sale, the insider now directly owns 30,044 shares of the company’s stock, valued at $1,932,730.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,994,710 shares of company stock valued at $140,841,959. Company insiders own 0.95% of the company’s stock.
Shares of NYSE:BBY traded down $7.88 during trading on Thursday, reaching $68.65. The company had a trading volume of 4,737,829 shares, compared to its average volume of 1,963,246. The business’s fifty day moving average is $71.87. The firm has a market cap of $20.34 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.54 and a beta of 1.07. Best Buy Co Inc has a twelve month low of $47.72 and a twelve month high of $84.37. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.12 and a quick ratio of 0.39.
Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 23rd. The technology retailer reported $1.02 EPS for the quarter, beating the consensus estimate of $0.88 by $0.14. Best Buy had a net margin of 3.54% and a return on equity of 47.91%. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same period in the prior year, the business earned $0.82 earnings per share. The business’s quarterly revenue was up .4% on a year-over-year basis. On average, research analysts forecast that Best Buy Co Inc will post 5.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Thursday, June 13th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.91%. The ex-dividend date was Wednesday, June 12th. Best Buy’s dividend payout ratio is presently 37.59%.
Best Buy Company Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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