US Bancorp DE Sells 3,637 Shares of Best Buy Co Inc (BBY)

US Bancorp DE decreased its position in Best Buy Co Inc (NYSE:BBY) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,277 shares of the technology retailer’s stock after selling 3,637 shares during the period. US Bancorp DE’s holdings in Best Buy were worth $7,482,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA acquired a new position in Best Buy in the second quarter valued at about $174,000. Squar Milner Financial Services LLC acquired a new position in Best Buy in the second quarter valued at about $201,000. RFG Advisory Group LLC acquired a new position in Best Buy in the second quarter valued at about $210,000. Capital Investment Advisors LLC acquired a new position in Best Buy in the second quarter valued at about $210,000. Finally, Courier Capital LLC acquired a new position in Best Buy in the second quarter valued at about $217,000. Institutional investors and hedge funds own 85.32% of the company’s stock.

NYSE BBY opened at $67.79 on Friday. The stock has a market cap of $19.99 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.52 and a debt-to-equity ratio of 0.25. Best Buy Co Inc has a one year low of $52.92 and a one year high of $84.37.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 28th. The technology retailer reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. The company had revenue of $9.38 billion for the quarter, compared to analyst estimates of $9.25 billion. Best Buy had a return on equity of 40.28% and a net margin of 2.44%. Best Buy’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. Research analysts anticipate that Best Buy Co Inc will post 5.11 earnings per share for the current fiscal year.

BBY has been the topic of several analyst reports. Zacks Investment Research raised Best Buy from a “hold” rating to a “strong-buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, July 24th. Morgan Stanley raised their price target on Best Buy from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 29th. Telsey Advisory Group raised their price target on Best Buy from $76.00 to $80.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 29th. JPMorgan Chase & Co. raised their price target on Best Buy from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 29th. Finally, Raymond James raised their price target on Best Buy from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $80.63.

In related news, SVP Mathew Watson sold 2,131 shares of the stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $77.88, for a total transaction of $165,962.28. Following the completion of the transaction, the senior vice president now directly owns 18,131 shares in the company, valued at $1,412,042.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patricia H. Walker sold 5,000 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $77.66, for a total value of $388,300.00. Following the transaction, the insider now owns 21,698 shares of the company’s stock, valued at $1,685,066.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,711 shares of company stock valued at $6,081,426. 0.75% of the stock is owned by corporate insiders.

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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 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: Return on Equity (ROE)

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

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