Best Buy Co Inc (BBY) Stake Increased by Schroder Investment Management Group

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Schroder Investment Management Group increased its stake in shares of Best Buy Co Inc (NYSE:BBY) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,132 shares of the technology retailer’s stock after buying an additional 725 shares during the quarter. Schroder Investment Management Group’s holdings in Best Buy were worth $4,884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OppenheimerFunds Inc. increased its stake in shares of Best Buy by 20.9% during the second quarter. OppenheimerFunds Inc. now owns 3,498,002 shares of the technology retailer’s stock worth $260,880,000 after purchasing an additional 604,282 shares in the last quarter. LSV Asset Management increased its stake in shares of Best Buy by 31.1% during the second quarter. LSV Asset Management now owns 3,134,306 shares of the technology retailer’s stock worth $233,756,000 after purchasing an additional 742,913 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Best Buy by 84.4% during the second quarter. Janus Henderson Group PLC now owns 2,102,292 shares of the technology retailer’s stock worth $156,794,000 after purchasing an additional 962,231 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Best Buy by 44.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,635,325 shares of the technology retailer’s stock worth $121,963,000 after purchasing an additional 505,061 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Best Buy by 454.5% during the second quarter. Marshall Wace LLP now owns 1,287,293 shares of the technology retailer’s stock worth $96,006,000 after purchasing an additional 1,055,122 shares in the last quarter. 85.32% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Corie S. Barry sold 2,982 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $78.35, for a total value of $233,639.70. Following the sale, the chief financial officer now directly owns 72,838 shares in the company, valued at approximately $5,706,857.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Corie S. Barry sold 6,783 shares of the firm’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $72.80, for a total transaction of $493,802.40. Following the completion of the sale, the chief financial officer now owns 80,961 shares in the company, valued at $5,893,960.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,711 shares of company stock worth $6,081,426. 0.75% of the stock is owned by company insiders.

Several brokerages recently issued reports on BBY. Morgan Stanley upped their price objective on shares of Best Buy from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, October 11th. Zacks Investment Research cut shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Credit Suisse Group upped their price objective on shares of Best Buy from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. Barclays reaffirmed a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research note on Wednesday, August 29th. Finally, Bank of America reaffirmed a “buy” rating and set a $92.00 price objective on shares of Best Buy in a research note on Tuesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $80.63.

Shares of BBY stock traded down $5.44 during trading hours on Friday, hitting $67.79. The company had a trading volume of 6,358,062 shares, compared to its average volume of 2,998,144. The firm has a market cap of $19.99 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.12 and a beta of 1.01. Best Buy Co Inc has a fifty-two week low of $52.92 and a fifty-two week high of $84.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.52 and a current ratio of 1.21.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. The company had revenue of $9.38 billion for the quarter, compared to analyst estimates of $9.25 billion. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. As a group, research analysts predict that Best Buy Co Inc will post 5.11 EPS for the current fiscal year.

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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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