Best Buy Co Inc (BBY) Shares Bought by Fort L.P.

Fort L.P. lifted its holdings in Best Buy Co Inc (NYSE:BBY) by 30.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,966 shares of the technology retailer’s stock after purchasing an additional 2,552 shares during the quarter. Fort L.P.’s holdings in Best Buy were worth $581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Prudential PLC boosted its holdings in shares of Best Buy by 5.2% in the 4th quarter. Prudential PLC now owns 1,194,025 shares of the technology retailer’s stock valued at $63,235,000 after buying an additional 58,600 shares during the last quarter. Kepos Capital LP boosted its holdings in shares of Best Buy by 0.3% in the 4th quarter. Kepos Capital LP now owns 84,310 shares of the technology retailer’s stock valued at $4,465,000 after buying an additional 233 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Best Buy by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,414,905 shares of the technology retailer’s stock valued at $127,879,000 after buying an additional 171,050 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of Best Buy by 41.7% in the 4th quarter. United Services Automobile Association now owns 190,549 shares of the technology retailer’s stock valued at $10,091,000 after buying an additional 56,103 shares during the last quarter. Finally, Duality Advisers LP acquired a new stake in shares of Best Buy in the 4th quarter valued at approximately $6,997,000. Institutional investors and hedge funds own 82.76% of the company’s stock.

BBY has been the subject of several recent analyst reports. Bank of America downgraded Best Buy from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $70.00 to $50.00 in a report on Monday, December 17th. Zacks Investment Research cut Best Buy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Wells Fargo & Co upgraded Best Buy to a “buy” rating in a research note on Thursday, February 28th. Deutsche Bank restated a “buy” rating on shares of Best Buy in a research note on Friday, January 11th. Finally, Moffett Nathanson upgraded Best Buy from a “sell” rating to a “neutral” rating in a research note on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $76.33.



In other news, major shareholder Richard M. Schulze sold 25,443 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $68.22, for a total transaction of $1,735,721.46. Following the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at approximately $118,191,150. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mathew Watson sold 380 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $68.79, for a total value of $26,140.20. Following the sale, the senior vice president now directly owns 20,206 shares in the company, valued at $1,389,970.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,001,380 shares of company stock worth $68,772,378 in the last quarter. Company insiders own 0.75% of the company’s stock.

BBY stock opened at $68.85 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.46 and a debt-to-equity ratio of 0.40. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.11 and a beta of 0.94. Best Buy Co Inc has a fifty-two week low of $47.72 and a fifty-two week high of $84.37.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Wednesday, February 27th. The technology retailer reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.15. The firm had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.69 billion. Best Buy had a return on equity of 46.33% and a net margin of 3.41%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.42 EPS. As a group, equities analysts expect that Best Buy Co Inc will post 5.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 20th will be given a dividend of $0.50 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, March 19th. This represents a $2.00 annualized dividend and a yield of 2.90%. Best Buy’s dividend payout ratio (DPR) is presently 33.83%.

Best Buy announced that its board has initiated a stock repurchase program on Wednesday, February 27th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the technology retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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Best Buy Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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

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