Clark Estates Inc. NY Continues to Hold Position in Best Buy Co Inc (BBY)

Clark Estates Inc. NY continued to hold its stake in Best Buy Co Inc (NYSE:BBY) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,000 shares of the technology retailer’s stock at the end of the first quarter. Best Buy Co accounts for approximately 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 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BBY. Dalton Greiner Hartman Maher & Co. increased its stake in Best Buy Co by 4.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 6,078 shares of the technology retailer’s stock worth $299,000 after buying an additional 248 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Best Buy Co by 164.5% in the first quarter. State of Alaska Department of Revenue now owns 58,927 shares of the technology retailer’s stock worth $2,895,000 after buying an additional 36,647 shares during the last quarter. Quantitative Systematic Strategies LLC increased its stake in Best Buy Co by 569.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 38,196 shares of the technology retailer’s stock worth $1,877,000 after buying an additional 32,490 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Best Buy Co by 60.1% in the first quarter. Nisa Investment Advisors LLC now owns 105,454 shares of the technology retailer’s stock worth $5,183,000 after buying an additional 39,569 shares during the last quarter. Finally, NewSquare Capital LLC increased its stake in Best Buy Co by 14.0% in the first quarter. NewSquare Capital LLC now owns 25,946 shares of the technology retailer’s stock worth $1,275,000 after buying an additional 3,188 shares during the last quarter. Institutional investors own 86.57% of the company’s stock.

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

Shares of Best Buy Co Inc (NYSE:BBY) traded up 0.22% during mid-day trading on Friday, hitting $50.64. 3,621,632 shares of the stock traded hands. The stock has a 50-day moving average of $46.61 and a 200-day moving average of $44.05. Best Buy Co Inc has a 52 week low of $28.76 and a 52 week high of $50.92. The company has a market cap of $15.65 billion, a price-to-earnings ratio of 13.31 and a beta of 1.59.

Best Buy Co (NYSE:BBY) last posted its earnings results on Wednesday, March 1st. The technology retailer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $13.61 billion. During the same period last year, the business posted $1.53 EPS. Best Buy Co’s revenue was down 1.0% compared to the same quarter last year. Analysts anticipate that Best Buy Co Inc will post $3.68 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 12th. Shareholders of record on Wednesday, March 22nd were issued a $0.34 dividend. The ex-dividend date of this dividend was Monday, March 20th. This is an increase from Best Buy Co’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a yield of 2.69%. Best Buy Co’s dividend payout ratio is 33.73%.

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A number of research firms have recently issued reports on BBY. Deutsche Bank AG upgraded shares of Best Buy Co from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Tuesday, April 11th. Sanford C. Bernstein reiterated a “sell” rating on shares of Best Buy Co in a research report on Saturday, April 8th. Loop Capital reiterated a “buy” rating and set a $58.00 price target on shares of Best Buy Co in a research report on Tuesday, April 4th. Vetr downgraded shares of Best Buy Co from a “hold” rating to a “sell” rating and set a $44.50 price target for the company. in a research report on Monday, March 27th. Finally, Piper Jaffray Companies upgraded shares of Best Buy Co from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $44.85 to $55.00 in a research report on Monday, March 27th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.85.

In other Best Buy Co news, VP Mathew Watson sold 1,000 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $44.59, for a total value of $44,590.00. Following the completion of the sale, the vice president now directly owns 16,320 shares of the company’s stock, valued at approximately $727,708.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Keith J. Nelsen sold 90,247 shares of the 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 completion of the sale, the general counsel now directly owns 88,651 shares of the company’s stock, valued at $3,948,515.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 407,582 shares of company stock valued at $19,437,764. Insiders own 1.21% of the company’s stock.

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.

5 Day Chart for NYSE:BBY

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