Neuberger Berman Group LLC trimmed its position in Best Buy Co Inc (NYSE:BBY) by 76.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 405,711 shares of the technology retailer’s stock after selling 1,300,727 shares during the period. Neuberger Berman Group LLC owned approximately 0.14% of Best Buy worth $23,109,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Blair William & Co. IL boosted its position in shares of Best Buy by 29.6% during the 2nd quarter. Blair William & Co. IL now owns 23,314 shares of the technology retailer’s stock worth $1,337,000 after purchasing an additional 5,325 shares in the last quarter. BB&T Securities LLC purchased a new stake in shares of Best Buy in the 2nd quarter worth about $307,000. Tocqueville Asset Management L.P. boosted its position in shares of Best Buy by 12.0% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 8,019 shares of the technology retailer’s stock worth $460,000 after buying an additional 856 shares in the last quarter. GAM Holding AG boosted its position in shares of Best Buy by 73.2% in the 2nd quarter. GAM Holding AG now owns 17,946 shares of the technology retailer’s stock worth $1,029,000 after buying an additional 7,586 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Best Buy by 0.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 937,674 shares of the technology retailer’s stock worth $53,757,000 after buying an additional 5,973 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.
Best Buy Co Inc (NYSE BBY) opened at $67.11 on Friday. Best Buy Co Inc has a one year low of $41.67 and a one year high of $67.30. The firm has a market cap of $19,609.26, a PE ratio of 16.69, a P/E/G ratio of 1.42 and a beta of 1.40. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, December 6th. Best Buy’s dividend payout ratio is currently 34.34%.
In other news, major shareholder Richard M. Schulze sold 250,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $66.83, for a total transaction of $16,707,500.00. Following the completion of the transaction, the insider now owns 1,732,500 shares of the company’s stock, valued at approximately $115,782,975. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total transaction of $58,800,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,137,387 shares of company stock valued at $191,242,577. Corporate insiders own 1.21% of the company’s stock.
BBY has been the topic of several recent research reports. Oppenheimer reiterated a “hold” rating on shares of Best Buy in a research report on Tuesday, August 29th. Barclays reiterated a “buy” rating and issued a $65.00 price objective on shares of Best Buy in a research report on Monday, August 28th. Loop Capital set a $72.00 price objective on shares of Best Buy and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Deutsche Bank reiterated a “buy” rating and issued a $58.00 price objective (down from $60.00) on shares of Best Buy in a research report on Thursday, August 31st. Finally, Royal Bank of Canada boosted their price objective on shares of Best Buy from $60.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 30th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $58.81.
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Best Buy 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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