Macquarie Group Ltd. Has $2.08 Million Holdings in Best Buy Co., Inc. (BBY)
Macquarie Group Ltd. grew its position in Best Buy Co., Inc. (NYSE:BBY) by 143.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,500 shares of the technology retailer’s stock after purchasing an additional 21,500 shares during the period. Macquarie Group Ltd.’s holdings in Best Buy were worth $2,079,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BBY. Renaissance Technologies LLC increased its position in shares of Best Buy by 762.4% during the second quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after acquiring an additional 3,119,700 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Best Buy by 27.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock valued at $228,696,000 after acquiring an additional 866,787 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Best Buy by 125.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock valued at $79,563,000 after acquiring an additional 772,200 shares during the period. APG Asset Management N.V. grew its position in shares of Best Buy by 27.6% in the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock valued at $190,263,000 after acquiring an additional 723,500 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Best Buy by 128.2% in the 2nd quarter. Janus Henderson Group PLC now owns 585,527 shares of the technology retailer’s stock valued at $33,570,000 after acquiring an additional 328,907 shares during the period. Institutional investors own 86.50% of the company’s stock.
Shares of Best Buy Co., Inc. (NYSE BBY) opened at $61.98 on Wednesday. Best Buy Co., Inc. has a 12 month low of $41.67 and a 12 month high of $63.32. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The firm has a market cap of $18,285.02, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.30 and a beta of 1.40.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s revenue was up 4.2% on a year-over-year basis. equities analysts expect that Best Buy Co., Inc. will post 4.03 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, December 6th. Best Buy’s dividend payout ratio (DPR) is 34.34%.
In other Best Buy news, General Counsel Keith J. Nelsen sold 44,235 shares of Best Buy stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $56.78, for a total value of $2,511,663.30. Following the completion of the sale, the general counsel now owns 107,503 shares in the company, valued at approximately $6,104,020.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Corie S. Barry sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $57.26, for a total transaction of $179,452.84. The disclosure for this sale can be found here. Insiders sold a total of 2,098,184 shares of company stock valued at $124,544,562 in the last quarter. Corporate insiders own 0.84% of the company’s stock.
BBY has been the subject of a number of analyst reports. Jefferies Group reissued a “hold” rating and issued a $60.00 price objective on shares of Best Buy in a research report on Wednesday, August 9th. Loop Capital reissued a “buy” rating and issued a $72.00 price objective on shares of Best Buy in a research report on Wednesday, August 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 price objective on shares of Best Buy in a research report on Wednesday, August 23rd. BidaskClub upgraded shares of Best Buy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Finally, Barclays restated a “buy” rating and set a $65.00 target price on shares of Best Buy in a research note on Monday, August 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $58.81.
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About Best Buy
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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