Keybank National Association OH Buys Shares of 3,492 Best Buy Co., Inc. (BBY)

Keybank National Association OH bought a new position in Best Buy Co., Inc. (NYSE:BBY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,492 shares of the technology retailer’s stock, valued at approximately $200,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Best Buy Co. by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock worth $1,602,962,000 after acquiring an additional 1,241,888 shares in the last quarter. BlackRock Inc. raised its position in shares of Best Buy Co. by 1,859.1% in the 1st quarter. BlackRock Inc. now owns 20,064,628 shares of the technology retailer’s stock worth $986,174,000 after acquiring an additional 19,040,478 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Best Buy Co. by 6.5% in the 1st quarter. JPMorgan Chase & Co. now owns 14,724,133 shares of the technology retailer’s stock worth $723,692,000 after acquiring an additional 898,300 shares in the last quarter. State Street Corp raised its position in shares of Best Buy Co. by 1.9% in the 1st quarter. State Street Corp now owns 13,700,994 shares of the technology retailer’s stock worth $673,407,000 after acquiring an additional 250,469 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of Best Buy Co. by 1.3% in the 1st quarter. American International Group Inc. now owns 10,846,704 shares of the technology retailer’s stock worth $533,116,000 after acquiring an additional 142,042 shares in the last quarter. 86.46% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $59.92, for a total value of $47,157.04. Following the transaction, the chief financial officer now directly owns 54,159 shares of the company’s stock, valued at approximately $3,245,207.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Corie S. Barry sold 3,426 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $187,333.68. Following the completion of the transaction, the chief financial officer now directly owns 57,903 shares in the company, valued at $3,166,136.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,328 shares of company stock worth $8,436,505. 1.21% of the stock is owned by insiders.

Best Buy Co., Inc. (NYSE:BBY) opened at 58.61 on Friday. Best Buy Co., Inc. has a 1-year low of $37.10 and a 1-year high of $63.32. The stock has a 50 day moving average price of $58.80 and a 200-day moving average price of $53.65. The stock has a market capitalization of $17.54 billion, a P/E ratio of 15.51 and a beta of 1.48.

Best Buy Co. (NYSE:BBY) last released its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the prior year, the firm earned $0.57 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that Best Buy Co., Inc. will post $4.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, September 18th. Best Buy Co.’s payout ratio is 35.88%.

BBY has been the subject of several research reports. Loop Capital reissued a “buy” rating and issued a $72.00 target price (up previously from $64.00) on shares of Best Buy Co. in a research report on Monday, June 5th. Barclays PLC reissued a “buy” rating and issued a $65.00 target price on shares of Best Buy Co. in a research report on Monday, August 28th. Deutsche Bank AG reissued a “buy” rating and issued a $58.00 target price (down previously from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Morgan Stanley raised Best Buy Co. from an “equal weight” rating to a “buy” rating and increased their target price for the stock from $43.00 to $60.00 in a research report on Tuesday, May 30th. Finally, BidaskClub raised Best Buy Co. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Best Buy Co. presently has a consensus rating of “Buy” and an average price target of $58.92.

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

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