Natixis Sells 46,329 Shares of Best Buy Co., Inc. (NYSE:BBY)

Natixis decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,111 shares of the technology retailer’s stock after selling 46,329 shares during the quarter. Natixis’ holdings in Best Buy were worth $60,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. bought a new stake in Best Buy in the second quarter valued at approximately $16,572,000. Donald L. Hagan LLC increased its stake in shares of Best Buy by 5.9% during the second quarter. Donald L. Hagan LLC now owns 5,583 shares of the technology retailer’s stock valued at $642,000 after buying an additional 313 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Best Buy by 14.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 363,130 shares of the technology retailer’s stock valued at $41,753,000 after buying an additional 44,698 shares during the period. Fulcrum Capital LLC increased its stake in shares of Best Buy by 18.6% during the second quarter. Fulcrum Capital LLC now owns 59,818 shares of the technology retailer’s stock valued at $6,878,000 after buying an additional 9,393 shares during the period. Finally, Selective Wealth Management Inc. purchased a new position in shares of Best Buy during the second quarter valued at approximately $118,000. Institutional investors own 76.10% of the company’s stock.

Shares of NYSE:BBY opened at $111.17 on Thursday. The company has a market cap of $27.34 billion, a P/E ratio of 11.30, a PEG ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.16 and a quick ratio of 0.54. Best Buy Co., Inc. has a 1 year low of $95.93 and a 1 year high of $128.57. The stock’s fifty day moving average price is $111.66 and its 200-day moving average price is $114.10.

Best Buy (NYSE:BBY) last posted its earnings results on Monday, August 23rd. The technology retailer reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $1.09. Best Buy had a return on equity of 64.85% and a net margin of 4.85%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the company earned $1.71 earnings per share. Best Buy’s revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 9.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 5th. Shareholders of record on Tuesday, September 14th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Monday, September 13th. Best Buy’s dividend payout ratio is 35.40%.

In related news, CFO Matthew M. Bilunas sold 819 shares of the stock in a transaction dated Monday, August 23rd. The stock was sold at an average price of $113.16, for a total transaction of $92,678.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert L. Bass sold 4,697 shares of the stock in a transaction dated Tuesday, July 27th. The stock was sold at an average price of $114.37, for a total value of $537,195.89. The disclosure for this sale can be found here. In the last three months, insiders sold 5,650 shares of company stock worth $644,243. 0.36% of the stock is owned by corporate insiders.

BBY has been the topic of several research analyst reports. Wells Fargo & Company raised Best Buy to a “buy” rating in a research note on Wednesday, August 25th. Bank of America raised Best Buy to a “buy” rating and boosted their target price for the company from $145.00 to $157.00 in a research note on Wednesday, August 25th. Jefferies Financial Group upped their price target on Best Buy from $136.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 25th. Telsey Advisory Group upped their price target on Best Buy from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 25th. Finally, Citigroup raised Best Buy to a “buy” rating and upped their price target for the stock from $109.00 to $115.00 in a research note on Wednesday, August 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $127.38.

Best Buy Company Profile

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.

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

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