Trustmark National Bank Trust Department lifted its position in shares of Best Buy Co Inc (NYSE:BBY) by 4.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,495 shares of the technology retailer’s stock after purchasing an additional 185 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Best Buy were worth $256,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of BBY. Norges Bank purchased a new stake in shares of Best Buy during the 4th quarter worth about $247,638,000. APG Asset Management N.V. lifted its stake in Best Buy by 65.7% in the 1st quarter. APG Asset Management N.V. now owns 3,221,797 shares of the technology retailer’s stock worth $203,893,000 after acquiring an additional 1,277,308 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Best Buy by 61.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,080,001 shares of the technology retailer’s stock worth $270,425,000 after acquiring an additional 1,168,359 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Best Buy by 66.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 2,019,859 shares of the technology retailer’s stock worth $115,133,000 after purchasing an additional 807,879 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Best Buy by 4.4% during the 1st quarter. BlackRock Inc. now owns 18,601,382 shares of the technology retailer’s stock worth $1,060,278,000 after purchasing an additional 783,926 shares in the last quarter. Institutional investors and hedge funds own 77.46% of the company’s stock.
A number of analysts have issued reports on BBY shares. Barclays raised their target price on Best Buy from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Telsey Advisory Group raised Best Buy from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Monday, May 18th. Wells Fargo & Co lifted their price objective on Best Buy from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. ValuEngine lowered Best Buy from a “hold” rating to a “sell” rating in a report on Wednesday, May 27th. Finally, Nomura decreased their price objective on Best Buy from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $86.52.
In other news, CAO Mathew Watson sold 806 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.42, for a total transaction of $43,862.52. Following the completion of the sale, the chief accounting officer now owns 20,137 shares in the company, valued at $1,095,855.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kathleen Scarlett sold 1,057 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $56.89, for a total value of $60,132.73. Following the sale, the insider now owns 34,652 shares of the company’s stock, valued at approximately $1,971,352.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 381,098 shares of company stock valued at $28,256,718. Corporate insiders own 0.64% of the company’s stock.
BBY traded down $4.28 during trading on Thursday, hitting $77.42. The company’s stock had a trading volume of 1,361,463 shares, compared to its average volume of 2,850,042. The firm’s 50 day moving average price is $77.23 and its two-hundred day moving average price is $78.24. The company has a quick ratio of 0.57, a current ratio of 1.02 and a debt-to-equity ratio of 0.79. Best Buy Co Inc has a 12 month low of $48.10 and a 12 month high of $91.99. The stock has a market capitalization of $20.40 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 2.19 and a beta of 1.48.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, May 21st. The technology retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.26. Best Buy had a return on equity of 45.89% and a net margin of 3.33%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that Best Buy Co Inc will post 4.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be given a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $2.20 annualized dividend and a yield of 2.84%. Best Buy’s payout ratio is 36.24%.
Best Buy Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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