State of Wisconsin Investment Board Has $15.08 Million Holdings in Best Buy Co., Inc. (BBY)

State of Wisconsin Investment Board boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,754 shares of the technology retailer’s stock after purchasing an additional 15,716 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of Best Buy Co. worth $15,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Managed Accounts LLC lifted its stake in Best Buy Co. by 18,281.8% in the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after purchasing an additional 2,011 shares during the last quarter. Huntington National Bank lifted its stake in Best Buy Co. by 18.4% in the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after purchasing an additional 318 shares during the last quarter. Exane Derivatives lifted its stake in Best Buy Co. by 65.5% in the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after purchasing an additional 1,010 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Best Buy Co. by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after purchasing an additional 163 shares during the last quarter. Finally, Keybank National Association OH bought a new stake in Best Buy Co. in the second quarter worth about $200,000. 87.52% of the stock is owned by institutional investors and hedge funds.

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Shares of Best Buy Co., Inc. (NYSE:BBY) opened at $56.97 on Tuesday. Best Buy Co., Inc. has a one year low of $38.56 and a one year high of $63.32. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30. The company has a market cap of $16,957.78, a price-to-earnings ratio of 14.68, a PEG ratio of 1.14 and a beta of 1.42.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. research analysts predict that Best Buy Co., Inc. will post 4.06 EPS for the current fiscal year.

Several analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Best Buy Co. in a research note on Tuesday, August 29th. Barclays PLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Best Buy Co. in a research note on Monday, August 28th. Loop Capital set a $72.00 price target on shares of Best Buy Co. and gave the company a “buy” rating in a research note on Tuesday, October 24th. Deutsche Bank AG reaffirmed a “buy” rating and set a $58.00 price target (down previously from $60.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Finally, Royal Bank Of Canada lifted their price target on shares of Best Buy Co. from $60.00 to $61.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 30th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $58.97.

In related news, CEO Hubert Joly sold 106,942 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the completion of the transaction, the chief executive officer now directly owns 645,222 shares in the company, valued at $35,280,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shari L. Ballard sold 2,246 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $134,580.32. The disclosure for this sale can be found here. Insiders have sold 166,259 shares of company stock valued at $9,182,693 over the last quarter. Insiders own 0.84% of the company’s stock.

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.

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

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