APG Asset Management N.V. continued to hold its position in shares of Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,616,788 shares of the technology retailer’s stock at the end of the second quarter. APG Asset Management N.V. owned about 0.86% of Best Buy Co. worth $150,020,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of BBY. Independence Advisors LLC acquired a new position in shares of Best Buy Co. during the second quarter worth about $284,000. Exane Derivatives increased its position in shares of Best Buy Co. by 65.5% in the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after buying an additional 1,010 shares during the period. Advisory Services Network LLC acquired a new position in shares of Best Buy Co. during the first quarter worth about $134,000. Heritage Trust Co acquired a new position in shares of Best Buy Co. during the first quarter worth about $137,000. Finally, TrimTabs Asset Management LLC increased its position in shares of Best Buy Co. by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,819 shares of the technology retailer’s stock worth $139,000 after buying an additional 1,328 shares during the period. 92.46% of the stock is owned by institutional investors and hedge funds.
Best Buy Co., Inc. (NYSE:BBY) traded down 1.13% during midday trading on Friday, hitting $59.47. The stock had a trading volume of 3,133,468 shares. Best Buy Co., Inc. has a one year low of $32.48 and a one year high of $62.36. The firm has a 50 day moving average price of $57.68 and a 200 day moving average price of $51.89. The stock has a market cap of $18.14 billion, a PE ratio of 16.00 and a beta of 1.45.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.20. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. The business had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same period in the prior year, the business posted $0.44 earnings per share. Best Buy Co.’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts expect that Best Buy Co., Inc. will post $3.89 EPS for the current year.
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A number of brokerages have recently issued reports on BBY. UBS AG reissued a “buy” rating and set a $51.00 target price (up from $47.00) on shares of Best Buy Co. in a research note on Wednesday, May 24th. Loop Capital reissued a “buy” rating and set a $72.00 target price on shares of Best Buy Co. in a research note on Wednesday. Deutsche Bank AG reissued a “buy” rating and set a $60.00 target price on shares of Best Buy Co. in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and set a $60.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $56.00 price objective (up from $49.00) on shares of Best Buy Co. in a research note on Sunday, May 28th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $56.76.
In other news, General Counsel Keith J. Nelsen sold 55,153 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $59.01, for a total value of $3,254,578.53. Following the transaction, the general counsel now directly owns 89,306 shares of the company’s stock, valued at $5,269,947.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Asheesh Saksena sold 22,255 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $55.66, for a total transaction of $1,238,713.30. Following the completion of the transaction, the insider now directly owns 82,440 shares in the company, valued at $4,588,610.40. The disclosure for this sale can be found here. Insiders sold 121,917 shares of company stock worth $7,107,375 over the last ninety days. 1.21% of the stock is currently owned by company insiders.
Best Buy Co. 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 has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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