Sterling Capital Management LLC reduced its position in Best Buy Co., Inc. (NYSE:BBY) by 12.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,873 shares of the technology retailer’s stock after selling 6,740 shares during the period. Sterling Capital Management LLC’s holdings in Best Buy were worth $2,670,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Spectrum Management Group Inc. lifted its position in shares of Best Buy by 25.7% in the second quarter. Spectrum Management Group Inc. now owns 21,515 shares of the technology retailer’s stock worth $1,233,000 after buying an additional 4,405 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Best Buy by 18.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 83,623 shares of the technology retailer’s stock worth $4,794,000 after buying an additional 13,150 shares in the last quarter. Viking Fund Management LLC lifted its position in shares of Best Buy by 66.7% in the third quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock worth $570,000 after buying an additional 4,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Best Buy by 23.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,179 shares of the technology retailer’s stock worth $10,330,000 after buying an additional 34,345 shares in the last quarter. Finally, Denali Advisors LLC purchased a new stake in shares of Best Buy in the third quarter worth about $740,000. Institutional investors own 88.89% of the company’s stock.

In related news, major shareholder Richard M. Schulze sold 75,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.19, for a total value of $4,889,250.00. Following the transaction, the insider now owns 1,732,500 shares of the company’s stock, valued at $112,941,675. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Richard M. Schulze sold 200,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $64.14, for a total value of $12,828,000.00. Following the completion of the transaction, the insider now directly owns 1,732,500 shares in the company, valued at approximately $111,122,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,898,184 shares of company stock worth $175,101,812. Insiders own 1.21% of the company’s stock.

A number of research firms recently commented on BBY. Loop Capital reiterated a “buy” rating and issued a $72.00 target price on shares of Best Buy in a research report on Wednesday, September 20th. Oppenheimer restated a “hold” rating on shares of Best Buy in a research report on Wednesday, September 20th. Piper Jaffray Companies restated a “buy” rating and set a $70.00 price objective on shares of Best Buy in a research report on Wednesday, August 23rd. Telsey Advisory Group decreased their price objective on Best Buy from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 20th. Finally, Royal Bank of Canada decreased their price objective on Best Buy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 20th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.81.

Best Buy Co., Inc. (NYSE BBY) opened at $65.32 on Friday. The company has a market capitalization of $19,094.80, a P/E ratio of 16.25, a PEG ratio of 1.38 and a beta of 1.40. Best Buy Co., Inc. has a 52 week low of $41.67 and a 52 week high of $65.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. sell-side analysts forecast that Best Buy Co., Inc. will post 4.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, December 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.08%. Best Buy’s dividend payout ratio is 34.34%.

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

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