Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Hartford Investment Management Co.


Hartford Investment Management Co. reduced its stake in Best Buy Co., Inc. (NYSE:BBY – Get Rating ) by 7.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,207 shares of the technology retailer’s stock after selling 2,039 shares during the period. Hartford Investment Management Co.’s holdings. in Best Buy were worth $2,382,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Great Valley Advisor Group Inc. acquired a new stake in Best Buy during the first quarter valued at approximately $352,000. Concord Wealth Partners raised its stake in shares of Best Buy by 39.4% during the first quarter. Concord Wealth Partners now owns 389 shares of the technology retailer’s stock valued at $35,000 after acquiring an additional 110 shares during the last quarter. KMG Fiduciary Partners LLC acquired a new position in shares of Best Buy during the first quarter valued at $541,000. Icon Wealth Partners LLC increased its stake in shares of Best Buy by 25.8% during the first quarter. Icon Wealth Partners LLC now owns 28,460 shares of the technology retailer’s stock valued at $2,587,000 after acquiring an additional 5,843 shares in the last quarter. Finally, JB Capital LLC boosted its stake in shares of Best Buy by 8.2% in the first quarter. JB Capital LLC now owns 8,040 shares of the technology retailer’s stock valued at $731,000 after acquiring an additional 606 shares during the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s shares.

Shares of BBY stock opened at $66.77 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.24 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $79.80, and its 200-day moving average is $91.72. Best Buy Co., Inc. has a twelve month low of $64.29 and a twelve month high of $141.97. The firm has a market cap of $15.03 billion, a P/E ratio of 7.41, a PEG ratio of 0.91 and a beta of 1.47.

Best Buy (NYSE:BBY – Get Rating) last posted its earnings results on Tuesday, May 24th. The technology retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.04). Best Buy has a return on equity of 63.39% and a net margin of 4.33%. The company had revenue of $10.65 billion for the quarter, compared to analysts’ estimates of $10.43 billion. In the same quarter last year, the company reported $2.23 earnings per share. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Analysts predict that Best Buy Co., Inc. will post 8.68 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Tuesday, June 14th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, June 13th. This represents a $3.52 annual dividend and a yield of 5.27%. Best Buy’s payout ratio is currently 39.07%.

Several equities analysts have commented on the stock. Telsey Advisory Group decreased their price objective on shares of Best Buy from $130.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Barclays downgraded shares of Best Buy from an “overweight” rating to an “equal weight” rating and set a $80.00 target price for the company. in a research note on Wednesday, May 25th. Guggenheim reduced their target price on shares of Best Buy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. DA Davidson boosted their target price on shares of Best Buy from $107.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 25th. Finally, Morgan Stanley reduced their price objective on shares of Best Buy from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Best Buy presently has an average rating of “Moderate Buy” and an average target price of $96.06, according to MarketBeat.com.

In other news, CEO Corey S. Barry sold 4,388 shares of the stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $307,160.00. Following the sale, the chief executive officer now directly owns 315,313 shares in the company, valued at $22,071,910. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Also, CEO Corie S. Barry sold 44,619 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $80.68, for a total transaction of $3,599,860.92. Following the completion of the sale, the chief executive officer now owns 319,701 shares in the company, valued at $25,793,476.68. Disclosure of this sale can be found here. Insiders have sold 64,151 shares of company stock worth $5,146,816 over the last 90 days. 0.44% of shares are currently owned by company insiders.

Best Buy Profile (Get Rating)

Best Buy Co, Inc sells technology products at retail in the United States and Canada. The company operates in two segments, domestic and international. Its stores offer computer products such as desktop computers, notebook computers and peripherals; Mobile phones including associated commissions for mobile networks; network products; Tablets covering electronic readers; smart watches; and consumer electronics, consisting of digital imaging, health and fitness, home theater, portable audio including headphones and portable speakers, and smart home products.

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Institutional Ownership by Best Buy Quarterly (NYSE:BBY)



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