APG Asset Management N.V. Holds Position in Best Buy Co., Inc. (BBY)

APG Asset Management N.V. held its stake in Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,616,788 shares of the technology retailer’s stock at the end of the second quarter. APG Asset Management N.V.’s holdings in Best Buy Co. were worth $150,020,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp purchased a new stake in Best Buy Co. during the first quarter worth $134,000. Alpha Windward LLC boosted its stake in Best Buy Co. by 2.7% in the first quarter. Alpha Windward LLC now owns 11,506 shares of the technology retailer’s stock worth $566,000 after buying an additional 300 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in Best Buy Co. by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 88,013 shares of the technology retailer’s stock worth $4,325,000 after buying an additional 800 shares in the last quarter. Charter Trust Co. boosted its stake in Best Buy Co. by 37.5% in the first quarter. Charter Trust Co. now owns 16,774 shares of the technology retailer’s stock worth $824,000 after buying an additional 4,579 shares in the last quarter. Finally, Manning & Napier Advisors LLC boosted its stake in Best Buy Co. by 13.8% in the first quarter. Manning & Napier Advisors LLC now owns 46,582 shares of the technology retailer’s stock worth $2,288,000 after buying an additional 5,653 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Shares of Best Buy Co., Inc. (NYSE:BBY) traded up 1.61% on Monday, hitting $55.01. The company had a trading volume of 1,118,906 shares. The company has a 50 day moving average of $56.72 and a 200-day moving average of $49.72. Best Buy Co., Inc. has a 12-month low of $31.91 and a 12-month high of $61.95. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 14.80 and a beta of 1.45.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.40 by $0.20. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. The business had revenue of $8.53 billion for the quarter, compared to analysts’ expectations of $8.28 billion. During the same period in the previous year, the company posted $0.44 EPS. Best Buy Co.’s revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Best Buy Co., Inc. will post $3.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, June 13th. Best Buy Co.’s dividend payout ratio is currently 36.46%.

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A number of research firms recently weighed in on BBY. ValuEngine cut Best Buy Co. from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Telsey Advisory Group upped their price target on Best Buy Co. from $53.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Loop Capital restated a “buy” rating and issued a $72.00 price target (up previously from $64.00) on shares of Best Buy Co. in a report on Monday, June 5th. Deutsche Bank AG restated a “buy” rating and issued a $60.00 price target on shares of Best Buy Co. in a report on Monday, June 5th. Finally, Barclays PLC restated a “buy” rating and issued a $65.00 price target on shares of Best Buy Co. in a report on Friday, May 26th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.76.

In other news, insider Asheesh Saksena sold 22,255 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $55.66, for a total transaction of $1,238,713.30. Following the transaction, the insider now directly owns 82,440 shares in the company, valued at approximately $4,588,610.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mathew Watson sold 758 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $51.82, for a total transaction of $39,279.56. Following the transaction, the vice president now owns 19,172 shares in the company, valued at $993,493.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,917 shares of company stock worth $7,107,375. 0.84% of the stock is currently owned by corporate insiders.

About Best Buy Co.

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 Co. (NYSE:BBY)

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