Harvest Fund Management Co. Ltd Increases Position in Best Buy Co., Inc. (BBY)

Harvest Fund Management Co. Ltd boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 45.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,155 shares of the technology retailer’s stock after acquiring an additional 1,305 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Best Buy Co. were worth $238,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FNY Managed Accounts LLC raised its stake in Best Buy Co. by 18,281.8% in the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after acquiring an additional 2,011 shares during the period. Huntington National Bank raised its stake in Best Buy Co. by 18.4% in the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after acquiring an additional 318 shares during the period. TrimTabs Asset Management LLC raised its stake in Best Buy Co. by 89.1% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,819 shares of the technology retailer’s stock valued at $139,000 after acquiring an additional 1,328 shares during the period. Exane Derivatives raised its stake in Best Buy Co. by 65.5% in the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after acquiring an additional 1,010 shares during the period. Finally, Harbour Capital Advisors LLC bought a new stake in Best Buy Co. in the 1st quarter valued at about $147,000. Institutional investors and hedge funds own 86.46% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Harvest Fund Management Co. Ltd Increases Position in Best Buy Co., Inc. (BBY)” was posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://transcriptdaily.com/2017/09/17/harvest-fund-management-co-ltd-increases-position-in-best-buy-co-inc-bby.html.

Shares of Best Buy Co., Inc. (NYSE:BBY) traded up 0.39% during mid-day trading on Friday, reaching $58.61. The company’s stock had a trading volume of 3,919,815 shares. The stock has a market capitalization of $17.54 billion, a P/E ratio of 15.51 and a beta of 1.48. The company’s 50-day moving average price is $58.80 and its 200-day moving average price is $53.65. Best Buy Co., Inc. has a 12-month low of $37.10 and a 12-month high of $63.32.

Best Buy Co. (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. The business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. On average, equities research analysts forecast that Best Buy Co., Inc. will post $4.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, September 18th. Best Buy Co.’s dividend payout ratio is presently 35.88%.

In other Best Buy Co. news, insider Shari L. Ballard sold 9,778 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $534,661.04. Following the completion of the transaction, the insider now owns 84,613 shares in the company, valued at approximately $4,626,638.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hubert Joly sold 14,734 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $882,861.28. Following the transaction, the chief executive officer now owns 540,694 shares of the company’s stock, valued at approximately $32,398,384.48. The disclosure for this sale can be found here. Insiders have sold a total of 152,328 shares of company stock valued at $8,436,505 in the last 90 days. 1.21% of the stock is currently owned by company insiders.

A number of brokerages recently issued reports on BBY. UBS AG restated a “buy” rating and issued a $51.00 price objective (up from $47.00) on shares of Best Buy Co. in a research note on Wednesday, May 24th. Deutsche Bank AG restated a “buy” rating and issued a $60.00 price objective on shares of Best Buy Co. in a research note on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and issued a $60.00 price objective on shares of Best Buy Co. in a research note on Wednesday, August 9th. Loop Capital restated a “buy” rating and issued a $72.00 price objective on shares of Best Buy Co. in a research note on Wednesday, August 16th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $56.00 price objective (up from $49.00) on shares of Best Buy Co. in a research note on Sunday, May 28th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Best Buy Co. currently has a consensus rating of “Buy” and a consensus price target of $58.92.

Best Buy Co. Profile

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.

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

Receive News & Ratings for Best Buy Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply