Lucus Advisors LLC acquired a new stake in Best Buy Co. (NYSE:BBY) during the second quarter, Holdings Channel reports. The firm acquired 11,241 shares of the technology retailer’s stock, valued at approximately $344,000.
Several other hedge funds and other institutional investors have also bought and sold shares of BBY. NorthRock Partners LLC raised its position in Best Buy by 38.3% in the first quarter. NorthRock Partners LLC now owns 9,229 shares of the technology retailer’s stock valued at $303,000 after buying an additional 2,554 shares during the period. LS Investment Advisors LLC raised its position in Best Buy by 14.3% in the second quarter. LS Investment Advisors LLC now owns 10,736 shares of the technology retailer’s stock valued at $329,000 after buying an additional 1,342 shares during the period. Fox Run Management L.L.C. acquired a new position in Best Buy during the second quarter valued at $352,000. Jensen Investment Management Inc. raised its position in Best Buy by 3.6% in the second quarter. Jensen Investment Management Inc. now owns 12,720 shares of the technology retailer’s stock valued at $389,000 after buying an additional 440 shares during the period. Finally, Nikko Asset Management Americas Inc. acquired a new position in Best Buy during the second quarter valued at $500,000. 87.63% of the stock is owned by hedge funds and other institutional investors.
Best Buy Co. (NYSE:BBY) remained flat at $38.18 on Monday. The company’s stock had a trading volume of 3,608,509 shares. The company has a market cap of $12.11 billion, a PE ratio of 12.42 and a beta of 1.47. The stock has a 50-day moving average of $37.42 and a 200 day moving average of $33.21. Best Buy Co. has a 12 month low of $25.31 and a 12 month high of $40.58.
Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, August 23rd. The technology retailer reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Best Buy had a net margin of 2.62% and a return on equity of 22.44%. The business earned $8.53 billion during the quarter, compared to the consensus estimate of $8.40 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s revenue was up .1% on a year-over-year basis. Equities research analysts predict that Best Buy Co. will post $3.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, September 9th. Best Buy’s dividend payout ratio (DPR) is presently 36.48%.
A number of brokerages recently commented on BBY. Vetr lowered Best Buy from a “strong-buy” rating to a “buy” rating and set a $32.42 target price for the company. in a research report on Wednesday, June 15th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $31.00 target price on shares of Best Buy in a research report on Thursday, June 23rd. Barclays PLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Best Buy in a research report on Thursday, June 23rd. Bank of America Corp. reaffirmed a “buy” rating on shares of Best Buy in a research report on Thursday, June 23rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $32.00 target price on shares of Best Buy in a research report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.27.
In other Best Buy news, VP Mathew Watson sold 1,030 shares of Best Buy stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $39.45, for a total value of $40,633.50. Following the completion of the sale, the vice president now owns 18,876 shares of the company’s stock, valued at approximately $744,658.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.21% of the stock is currently owned by company insiders.
Best Buy 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 operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.
Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co. (NYSE:BBY).
Receive News & Ratings for Best Buy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. and related companies with MarketBeat.com's FREE daily email newsletter.