Candriam Luxembourg S.C.A. Sells 7,583 Shares of Best Buy Co., Inc. (BBY)

Candriam Luxembourg S.C.A. cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 25.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,015 shares of the technology retailer’s stock after selling 7,583 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Best Buy Co. were worth $1,254,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Nordea Investment Management AB boosted its position in Best Buy Co. by 0.3% during the 2nd quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock worth $860,000 after buying an additional 48 shares during the period. Advisor Group Inc. raised its holdings in Best Buy Co. by 1.2% during the 2nd quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock worth $265,000 after purchasing an additional 55 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Best Buy Co. by 6.2% during the 2nd 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. Thrivent Financial For Lutherans raised its holdings in Best Buy Co. by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock worth $576,000 after purchasing an additional 170 shares during the last quarter. Finally, Financial Advisors Network Inc. raised its holdings in Best Buy Co. by 2.3% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock worth $433,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.

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Several analysts recently issued reports on the stock. Loop Capital reissued a “buy” rating and issued a $72.00 price target on shares of Best Buy Co. in a research report on Wednesday, August 16th. 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 report on Wednesday, August 30th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Best Buy Co. in a research report on Tuesday, August 29th. Deutsche Bank AG reissued a “buy” rating and issued a $58.00 price target (down previously from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 price target on shares of Best Buy Co. in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Best Buy Co. has an average rating of “Buy” and a consensus target price of $58.86.

In other news, General Counsel Keith J. Nelsen sold 2,433 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $145,785.36. Following the completion of the sale, the general counsel now owns 66,873 shares of the company’s stock, valued at $4,007,030.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shari L. Ballard sold 2,246 shares of the 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 $134,580.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,259 shares of company stock valued at $9,182,693. 1.21% of the stock is owned by insiders.

Shares of Best Buy Co., Inc. (NYSE BBY) opened at $55.83 on Friday. The stock has a market capitalization of $16,703.50, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.69. Best Buy Co., Inc. has a 52 week low of $41.67 and a 52 week high of $63.32.

Best Buy Co. (NYSE:BBY) last issued its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.36 billion. Best Buy Co. had a return on equity of 28.46% and a net margin of 3.09%. Best Buy Co.’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. equities analysts expect that Best Buy Co., Inc. will post 4.04 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.44%. Best Buy Co.’s dividend payout ratio is currently 34.34%.

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)

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