Best Buy Co., Inc. (NYSE:BBY) Stock Holdings Boosted by QS Investors LLC

QS Investors LLC raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,837 shares of the technology retailer’s stock after purchasing an additional 1,849 shares during the quarter. QS Investors LLC’s holdings in Best Buy were worth $4,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. bought a new position in Best Buy during the 2nd quarter valued at $16,572,000. Donald L. Hagan LLC boosted its stake in Best Buy by 5.9% during the 2nd quarter. Donald L. Hagan LLC now owns 5,583 shares of the technology retailer’s stock valued at $642,000 after purchasing an additional 313 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Best Buy by 14.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,130 shares of the technology retailer’s stock valued at $41,753,000 after purchasing an additional 44,698 shares in the last quarter. Fulcrum Capital LLC boosted its stake in Best Buy by 18.6% during the 2nd quarter. Fulcrum Capital LLC now owns 59,818 shares of the technology retailer’s stock valued at $6,878,000 after purchasing an additional 9,393 shares in the last quarter. Finally, Selective Wealth Management Inc. bought a new position in Best Buy during the 2nd quarter valued at $118,000. 76.10% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:BBY opened at $110.78 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.54 and a debt-to-equity ratio of 0.29. Best Buy Co., Inc. has a 1 year low of $95.93 and a 1 year high of $128.57. The business has a fifty day simple moving average of $111.66 and a 200 day simple moving average of $114.10. The firm has a market cap of $27.25 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.35 and a beta of 1.52.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Monday, August 23rd. The technology retailer reported $2.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $1.09. Best Buy had a return on equity of 64.85% and a net margin of 4.85%. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period last year, the company earned $1.71 earnings per share. Best Buy’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, sell-side analysts forecast that Best Buy Co., Inc. will post 9.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 5th. Investors of record on Tuesday, September 14th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, September 13th. This represents a $2.80 annualized dividend and a dividend yield of 2.53%. Best Buy’s dividend payout ratio is 35.40%.

Several equities research analysts have recently weighed in on BBY shares. Wedbush raised Best Buy to a “buy” rating in a research note on Wednesday, August 25th. Piper Sandler raised their price objective on Best Buy from $146.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, September 27th. Citigroup raised Best Buy to a “buy” rating and raised their price objective for the stock from $109.00 to $115.00 in a research note on Wednesday, August 25th. Wells Fargo & Company raised Best Buy to a “buy” rating in a research note on Wednesday, August 25th. Finally, Zacks Investment Research reissued a “buy” rating on shares of Best Buy in a research note on Friday, September 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $127.38.

In other Best Buy news, insider Robert L. Bass sold 4,697 shares of the firm’s stock in a transaction dated Tuesday, July 27th. The stock was sold at an average price of $114.37, for a total transaction of $537,195.89. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew M. Bilunas sold 819 shares of the firm’s stock in a transaction dated Monday, August 23rd. The shares were sold at an average price of $113.16, for a total value of $92,678.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,650 shares of company stock valued at $644,243. 0.36% of the stock is owned by corporate insiders.

About Best Buy

Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment comprises of the operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.

Recommended Story: What are the advantages to having securities held in street name?

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

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.