Best Buy Co., Inc. (BBY) Position Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,111 shares of the technology retailer’s stock after selling 2,548 shares during the quarter. Advisors Asset Management Inc.’s holdings in Best Buy Co. were worth $4,962,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Aperio Group LLC raised its stake in shares of Best Buy Co. by 15.6% in the second quarter. Aperio Group LLC now owns 165,483 shares of the technology retailer’s stock valued at $9,487,000 after buying an additional 22,375 shares during the period. Manning & Napier Advisors LLC raised its stake in shares of Best Buy Co. by 46.6% in the second quarter. Manning & Napier Advisors LLC now owns 68,303 shares of the technology retailer’s stock valued at $3,915,000 after buying an additional 21,721 shares during the period. Huntington National Bank raised its stake in shares of Best Buy Co. by 18.4% in the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after buying an additional 318 shares during the period. PGGM Investments raised its stake in shares of Best Buy Co. by 0.9% in the second quarter. PGGM Investments now owns 175,839 shares of the technology retailer’s stock valued at $10,081,000 after buying an additional 1,609 shares during the period. Finally, First Midwest Bank Trust Division raised its stake in shares of Best Buy Co. by 1.0% in the second quarter. First Midwest Bank Trust Division now owns 27,166 shares of the technology retailer’s stock valued at $1,557,000 after buying an additional 280 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Best Buy Co., Inc. (NYSE:BBY) traded down $0.01 during trading on Tuesday, hitting $56.34. The company had a trading volume of 276,069 shares, compared to its average volume of 4,483,838. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The stock has a market cap of $16,920.00, a P/E ratio of 13.89, a P/E/G ratio of 1.16 and a beta of 1.42. 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 posted its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. Best Buy Co. had a return on equity of 22.46% and a net margin of 2.55%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. research analysts predict that Best Buy Co., Inc. will post 4.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.41%. Best Buy Co.’s payout ratio is currently 34.43%.

In other Best Buy Co. news, VP Mathew Watson sold 1,129 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $61,733.72. Following the sale, the vice president now directly owns 17,764 shares in the company, valued at approximately $971,335.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shari L. Ballard sold 9,778 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $534,661.04. Following the sale, the insider now owns 84,613 shares in the company, valued at $4,626,638.84. The disclosure for this sale can be found here. Insiders sold a total of 145,799 shares of company stock worth $7,956,730 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

Several brokerages have issued reports on BBY. Loop Capital restated a “buy” rating and issued a $72.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 16th. Royal Bank Of Canada lifted their price target on 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. reiterated a “hold” rating on shares of Best Buy Co. in a research report on Tuesday, August 29th. Deutsche Bank AG reiterated a “buy” rating and issued a $58.00 price target (down from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Finally, Piper Jaffray Companies reiterated 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $58.86.

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Best Buy Co. Company 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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