Clark Estates Inc. NY continued to hold its stake in shares of Best Buy Co Inc (NYSE:BBY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,000 shares of the technology retailer’s stock at the end of the first quarter. Best Buy Co accounts for 0.6% of Clark Estates Inc. NY’s holdings, making the stock its 27th largest position. Clark Estates Inc. NY’s holdings in Best Buy Co were worth $3,686,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Best Buy Co during the third quarter valued at about $109,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Best Buy Co during the fourth quarter valued at about $122,000. Focused Wealth Management Inc purchased a new stake in shares of Best Buy Co during the fourth quarter valued at about $145,000. Tompkins Financial Corp purchased a new stake in shares of Best Buy Co during the first quarter valued at about $134,000. Finally, Kernodle & Katon Asset Management Group LLC bought a new position in Best Buy Co during the third quarter valued at $173,000. Institutional investors and hedge funds own 86.57% of the company’s stock.
Shares of Best Buy Co Inc (NYSE:BBY) opened at 51.33 on Friday. The firm has a 50-day moving average of $50.35 and a 200-day moving average of $45.95. Best Buy Co Inc has a 12 month low of $28.76 and a 12 month high of $52.67. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 13.49 and a beta of 1.59.
Best Buy Co (NYSE:BBY) last announced its quarterly earnings results on Wednesday, March 1st. The technology retailer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.28. Best Buy Co had a net margin of 2.78% and a return on equity of 24.18%. The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $13.61 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. Best Buy Co’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts anticipate that Best Buy Co Inc will post $3.69 EPS for the current year.
Several research analysts have weighed in on BBY shares. Zacks Investment Research cut shares of Best Buy Co from a “strong-buy” rating to a “sell” rating in a report on Thursday, February 2nd. Sanford C. Bernstein started coverage on shares of Best Buy Co in a report on Monday, February 6th. They issued an “underperform” rating and a $34.00 price target on the stock. Barclays PLC set a $50.00 price target on shares of Best Buy Co and gave the company a “buy” rating in a report on Saturday, February 18th. Loop Capital reissued a “buy” rating and issued a $58.00 price target on shares of Best Buy Co in a report on Wednesday, February 22nd. Finally, Jefferies Group LLC raised their target price on shares of Best Buy Co from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Best Buy Co currently has a consensus rating of “Hold” and an average price target of $44.21.
In other Best Buy Co news, Director Victor Kathy J. Higgins sold 7,500 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $47.73, for a total transaction of $357,975.00. Following the transaction, the director now owns 42,510 shares in the company, valued at $2,029,002.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Keith J. Nelsen sold 90,247 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $44.54, for a total transaction of $4,019,601.38. Following the transaction, the general counsel now owns 88,651 shares in the company, valued at approximately $3,948,515.54. The disclosure for this sale can be found here. Insiders sold 415,029 shares of company stock worth $19,817,710 in the last 90 days. 1.21% of the stock is currently owned by company insiders.
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.
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