Mn Services Vermogensbeheer B.V. Sells 1,700 Shares of Best Buy Co Inc (BBY)

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Best Buy Co Inc (NYSE:BBY) by 4.0% during the third quarter, Holdings Channel reports. The institutional investor owned 40,668 shares of the technology retailer’s stock after selling 1,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Best Buy were worth $3,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBY. NuWave Investment Management LLC lifted its stake in shares of Best Buy by 7,828.4% in the 3rd quarter. NuWave Investment Management LLC now owns 5,312 shares of the technology retailer’s stock valued at $421,000 after purchasing an additional 5,245 shares during the last quarter. Andesa Financial Management Inc. acquired a new position in shares of Best Buy in the 2nd quarter valued at $424,000. Schroder Investment Management Group lifted its stake in shares of Best Buy by 1.1% in the 2nd quarter. Schroder Investment Management Group now owns 65,132 shares of the technology retailer’s stock valued at $4,884,000 after purchasing an additional 725 shares during the last quarter. Lido Advisors LLC acquired a new position in shares of Best Buy in the 2nd quarter valued at $299,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Best Buy by 37.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 657,375 shares of the technology retailer’s stock valued at $51,841,000 after purchasing an additional 180,358 shares during the last quarter. 85.32% of the stock is currently owned by institutional investors.

BBY stock opened at $72.81 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.52 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $19.68 billion, a P/E ratio of 16.47, a PEG ratio of 1.11 and a beta of 1.01. Best Buy Co Inc has a 12-month low of $52.92 and a 12-month high of $84.37.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.08. The firm had revenue of $9.38 billion for the quarter, compared to the consensus estimate of $9.25 billion. Best Buy had a return on equity of 40.28% and a net margin of 2.44%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 EPS. On average, research analysts expect that Best Buy Co Inc will post 5.11 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 9th. Investors of record on Tuesday, September 18th were issued a $0.45 dividend. The ex-dividend date was Monday, September 17th. This represents a $1.80 annualized dividend and a dividend yield of 2.47%. Best Buy’s dividend payout ratio is presently 40.72%.

Several equities analysts have recently commented on the company. Morgan Stanley upped their price target on Best Buy from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, October 11th. Zacks Investment Research lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Credit Suisse Group upped their price target on Best Buy from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. Barclays reaffirmed a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research note on Wednesday, August 29th. Finally, Bank of America reaffirmed a “buy” rating and issued a $92.00 price target on shares of Best Buy in a research note on Tuesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $80.63.

In related news, General Counsel Keith J. Nelsen sold 33,473 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $80.38, for a total value of $2,690,559.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Asheesh Saksena sold 26,309 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $80.07, for a total value of $2,106,561.63. The disclosure for this sale can be found here. Insiders sold a total of 76,711 shares of company stock worth $6,081,426 in the last quarter. Company insiders own 0.75% of the company’s stock.

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About Best Buy

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 consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

Further Reading: Cost of Capital

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co Inc (NYSE:BBY).

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

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