Daiwa Securities Group Inc. Acquires 8,203 Shares of Best Buy Co., Inc. (BBY)

Daiwa Securities Group Inc. boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 64.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,003 shares of the technology retailer’s stock after purchasing an additional 8,203 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Best Buy Co. were worth $1,196,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Spectrum Management Group Inc. raised its stake in Best Buy Co. by 25.7% during the second quarter. Spectrum Management Group Inc. now owns 21,515 shares of the technology retailer’s stock valued at $1,233,000 after purchasing an additional 4,405 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new stake in Best Buy Co. during the second quarter valued at $1,534,000. Commerzbank Aktiengesellschaft FI raised its stake in Best Buy Co. by 18.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 83,623 shares of the technology retailer’s stock valued at $4,794,000 after purchasing an additional 13,150 shares in the last quarter. Viking Fund Management LLC raised its stake in Best Buy Co. by 66.7% during the third quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock valued at $570,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Best Buy Co. by 23.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,179 shares of the technology retailer’s stock valued at $10,330,000 after purchasing an additional 34,345 shares in the last quarter. 87.52% of the stock is currently owned by institutional investors.

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Shares of Best Buy Co., Inc. (NYSE:BBY) opened at $56.68 on Monday. Best Buy Co., Inc. has a one year low of $37.65 and a one year high of $63.32. The firm has a market cap of $16,957.78, a PE ratio of 14.68, a P/E/G ratio of 1.14 and a beta of 1.42. The company has a quick ratio of 0.69, a current ratio of 1.42 and a debt-to-equity ratio of 0.30.

Best Buy Co. (NYSE:BBY) last released its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The company had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. analysts anticipate that Best Buy Co., Inc. will post 4.06 EPS for the current year.

A number of research firms recently issued reports on BBY. Deutsche Bank AG reaffirmed a “buy” rating and set a $60.00 price target on shares of Best Buy Co. in a research note on Thursday, August 3rd. KeyCorp reiterated a “hold” rating on shares of Best Buy Co. in a research report on Friday. Jefferies Group LLC reiterated a “hold” rating and set a $60.00 price objective on shares of Best Buy Co. in a research report on Wednesday, August 9th. Loop Capital reiterated a “buy” rating and set a $72.00 price objective on shares of Best Buy Co. in a research report on Wednesday, August 16th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a research report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy Co. has a consensus rating of “Buy” and an average price target of $58.97.

In other Best Buy Co. news, CFO Corie S. Barry sold 787 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $47,157.04. Following the completion of the sale, the chief financial officer now directly owns 54,159 shares of the company’s stock, valued at $3,245,207.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shari L. Ballard sold 2,246 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $134,580.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,259 shares of company stock valued at $9,182,693. Insiders own 0.84% 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.

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

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