Best Buy Co Inc (BBY) Stake Decreased by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX lowered its stake in shares of Best Buy Co Inc (NYSE:BBY) by 16.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,439 shares of the technology retailer’s stock after selling 8,012 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Best Buy were worth $2,769,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in BBY. Renaissance Technologies LLC grew 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 buying an additional 3,119,700 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Best Buy by 27.5% in the third quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after purchasing an additional 866,787 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Best Buy by 125.4% in the second quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock worth $79,563,000 after purchasing an additional 772,200 shares during the period. APG Asset Management N.V. boosted its holdings in Best Buy by 27.6% in the third quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after purchasing an additional 723,500 shares during the period. Finally, 1060 Capital LLC acquired a new position in Best Buy in the third quarter worth $35,849,000. 88.45% of the stock is owned by institutional investors and hedge funds.
In other Best Buy news, major shareholder Richard M. Schulze sold 75,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 1,732,500 shares in the company, valued at $112,941,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Richard M. Schulze sold 250,000 shares of Best Buy stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $66.83, for a total transaction of $16,707,500.00. Following the sale, the insider now owns 1,732,500 shares in the company, valued at $115,782,975. The disclosure for this sale can be found here. Insiders sold 3,134,253 shares of company stock worth $191,063,125 over the last quarter. 1.21% of the stock is currently owned by company insiders.
Shares of Best Buy Co Inc (NYSE:BBY) opened at $73.25 on Friday. 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 stock has a market capitalization of $21,412.95, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.38 and a beta of 1.38. Best Buy Co Inc has a one year low of $41.67 and a one year high of $73.45.
Best Buy (NYSE:BBY) last posted its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The company 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 firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. equities research analysts anticipate that Best Buy Co Inc will post 4.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, December 6th. Best Buy’s payout ratio is 34.34%.
BBY has been the subject of a number of research reports. Wedbush set a $38.00 price objective on shares of Best Buy and gave the stock a “sell” rating in a report on Monday, January 8th. KeyCorp reaffirmed a “hold” rating on shares of Best Buy in a report on Friday, November 10th. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, October 10th. Deutsche Bank set a $56.00 price objective on shares of Best Buy and gave the stock a “hold” rating in a report on Friday, November 17th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Best Buy in a report on Wednesday, September 20th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $59.14.
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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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