IFM Investors Pty Ltd raised its position in Best Buy Co., Inc. (NYSE:BBY) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,195 shares of the technology retailer’s stock after purchasing an additional 1,359 shares during the quarter. IFM Investors Pty Ltd’s holdings in Best Buy were worth $2,136,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. raised its position in shares of Best Buy by 1,922.0% during the second quarter. Pacer Advisors Inc. now owns 70,708 shares of the technology retailer’s stock worth $6,171,000 after acquiring an additional 67,211 shares during the last quarter. Natixis Advisors L.P. grew its stake in Best Buy by 72.0% in the second quarter. Natixis Advisors L.P. now owns 53,545 shares of the technology retailer’s stock valued at $4,673,000 after acquiring an additional 22,408 shares during the period. Schroder Investment Management Group grew its stake in Best Buy by 136.7% in the first quarter. Schroder Investment Management Group now owns 182,938 shares of the technology retailer’s stock valued at $11,005,000 after acquiring an additional 105,656 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in Best Buy in the first quarter valued at approximately $28,000. Finally, Advisor Group Holdings Inc. acquired a new stake in Best Buy in the first quarter valued at approximately $2,607,000. Hedge funds and other institutional investors own 78.92% of the company’s stock.
In other Best Buy news, insider Whitney L. Alexander sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $98.42, for a total value of $885,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd G. Hartman sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $105.00, for a total transaction of $126,000.00. The disclosure for this sale can be found here. Insiders sold a total of 773,547 shares of company stock valued at $89,257,157 in the last three months. 0.64% of the stock is currently owned by corporate insiders.
Shares of BBY traded down $1.21 during mid-day trading on Friday, hitting $119.35. 1,855,426 shares of the company were exchanged, compared to its average volume of 2,678,789. Best Buy Co., Inc. has a 1-year low of $48.10 and a 1-year high of $121.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.65 and a current ratio of 1.06. The company has a 50 day moving average of $110.25 and a 200-day moving average of $90.17. The stock has a market cap of $30.89 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 2.15 and a beta of 1.63.
Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 25th. The technology retailer reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.62. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.79 billion. Best Buy had a net margin of 3.75% and a return on equity of 48.82%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 7.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th were given a $0.55 dividend. The ex-dividend date was Monday, September 14th. This represents a $2.20 annualized dividend and a yield of 1.84%. Best Buy’s dividend payout ratio is presently 36.24%.
Best Buy Company Profile
Best Buy Co, Inc retails technology products in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, peripherals, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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