Pensionfund Sabic Has $2.10 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)


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Pensionfund Sabic trimmed its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 21.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,300 shares of the technology retailer’s stock after selling 5,000 shares during the period. Pensionfund Sabic’s holdings in Best Buy were worth $2,101,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Best Buy by 2.8% during the fourth quarter. BlackRock Inc. now owns 19,306,106 shares of the technology retailer’s stock worth $1,926,558,000 after purchasing an additional 524,280 shares in the last quarter. FMR LLC lifted its position in shares of Best Buy by 21.0% during the fourth quarter. FMR LLC now owns 14,227,362 shares of the technology retailer’s stock worth $1,419,747,000 after purchasing an additional 2,464,803 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Best Buy by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,561,571 shares of the technology retailer’s stock worth $355,409,000 after purchasing an additional 239,631 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Best Buy by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,270,828 shares of the technology retailer’s stock worth $326,396,000 after purchasing an additional 41,269 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Best Buy by 0.7% during the fourth quarter. Northern Trust Corp now owns 3,169,870 shares of the technology retailer’s stock worth $316,321,000 after purchasing an additional 22,258 shares in the last quarter. Institutional investors own 76.56% of the company’s stock.

In related news, CAO Mathew Watson sold 567 shares of the stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $113.88, for a total transaction of $64,569.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Allison Peterson sold 1,898 shares of the stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $119.03, for a total transaction of $225,918.94. Following the transaction, the insider now owns 28,129 shares of the company’s stock, valued at approximately $3,348,194.87. The disclosure for this sale can be found here. Insiders have sold 37,923 shares of company stock valued at $4,454,091 in the last three months. 0.64% of the stock is owned by insiders.

A number of equities research analysts recently weighed in on BBY shares. Citigroup started coverage on shares of Best Buy in a research note on Monday, March 15th. They set a “sell” rating and a $86.00 price target for the company. Royal Bank of Canada dropped their price target on shares of Best Buy from $130.00 to $114.00 and set a “sector perform” rating for the company in a research note on Thursday, March 4th. Raymond James dropped their price target on shares of Best Buy from $150.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, March 4th. Bank of America reissued a “buy” rating on shares of Best Buy in a research note on Tuesday, February 16th. Finally, Zacks Investment Research downgraded shares of Best Buy from a “buy” rating to a “hold” rating and set a $115.00 price target for the company. in a research note on Monday, February 1st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. Best Buy presently has a consensus rating of “Hold” and a consensus target price of $109.26.

Shares of BBY stock opened at $120.59 on Thursday. The firm has a fifty day moving average of $112.31 and a 200-day moving average of $111.73. The company has a quick ratio of 0.55, a current ratio of 1.12 and a debt-to-equity ratio of 0.31. Best Buy Co., Inc. has a 12-month low of $62.54 and a 12-month high of $124.89. The company has a market capitalization of $30.15 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 1.40 and a beta of 1.52.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Wednesday, February 24th. The technology retailer reported $3.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.46 by $0.02. Best Buy had a net margin of 3.79% and a return on equity of 52.17%. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $17.19 billion. On average, equities analysts expect that Best Buy Co., Inc. will post 7.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 8th. Stockholders of record on Thursday, March 18th will be given a dividend of $0.70 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, March 17th. This represents a $2.80 annualized dividend and a dividend yield of 2.32%. Best Buy’s dividend payout ratio is currently 46.13%.

About Best Buy

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phones, such as computing covering desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions, networking products, tablets covering e-readers, and wearables, such as smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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

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