Elo Mutual Pension Insurance Co boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,806 shares of the technology retailer’s stock after purchasing an additional 277 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Best Buy were worth $1,929,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBY. Van Leeuwen & Company LLC acquired a new position in Best Buy during the 1st quarter worth $1,412,000. Teacher Retirement System of Texas lifted its position in shares of Best Buy by 17.2% in the 1st quarter. Teacher Retirement System of Texas now owns 117,553 shares of the technology retailer’s stock worth $13,496,000 after buying an additional 17,277 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Best Buy by 3.6% in the 1st quarter. First Horizon Advisors Inc. now owns 66,456 shares of the technology retailer’s stock worth $7,629,000 after buying an additional 2,330 shares during the last quarter. Islay Capital Management LLC lifted its position in shares of Best Buy by 16.2% in the 1st quarter. Islay Capital Management LLC now owns 1,181 shares of the technology retailer’s stock worth $136,000 after buying an additional 165 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Best Buy by 18.7% in the 1st quarter. Synovus Financial Corp now owns 8,049 shares of the technology retailer’s stock worth $922,000 after buying an additional 1,266 shares during the last quarter. 77.39% of the stock is owned by institutional investors and hedge funds.
In other news, COO Rajendra M. Mohan sold 90,335 shares of the business’s stock in a transaction on Friday, May 28th. The shares were sold at an average price of $115.71, for a total value of $10,452,662.85. Following the completion of the sale, the chief operating officer now directly owns 168,031 shares in the company, valued at $19,442,867.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mathew Watson sold 567 shares of the business’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $113.88, for a total transaction of $64,569.96. The disclosure for this sale can be found here. Insiders sold 182,358 shares of company stock valued at $21,229,515 over the last 90 days. 0.36% of the stock is owned by corporate insiders.
NYSE BBY opened at $112.54 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.17 and a quick ratio of 0.58. The firm has a market capitalization of $28.19 billion, a PE ratio of 13.16, a PEG ratio of 1.66 and a beta of 1.53. The company has a 50 day simple moving average of $118.02. Best Buy Co., Inc. has a 12-month low of $75.23 and a 12-month high of $128.57.
Best Buy (NYSE:BBY) last posted its earnings results on Wednesday, May 26th. The technology retailer reported $2.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.84. The firm had revenue of $11.64 billion during the quarter, compared to analysts’ expectations of $10.43 billion. Best Buy had a net margin of 4.44% and a return on equity of 59.67%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. On average, analysts expect that Best Buy Co., Inc. will post 8.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 8th. Stockholders of record on Thursday, June 17th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Wednesday, June 16th. Best Buy’s payout ratio is 35.40%.
Best Buy Company Profile
Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phones, such as computing covering desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions, networking products, tablets covering e-readers, and wearables, such as smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products.
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