Best Buy Co Inc (NYSE:BBY) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP lifted its stake in shares of Best Buy Co Inc (NYSE:BBY) by 59.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 454,009 shares of the technology retailer’s stock after acquiring an additional 169,688 shares during the quarter. Marshall Wace LLP owned about 0.17% of Best Buy worth $31,658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Advisors Inc. grew its position in Best Buy by 32.4% in the first quarter. Cornerstone Advisors Inc. now owns 809 shares of the technology retailer’s stock worth $57,000 after buying an additional 198 shares during the last quarter. First Allied Advisory Services Inc. grew its position in Best Buy by 12.8% in the first quarter. First Allied Advisory Services Inc. now owns 5,381 shares of the technology retailer’s stock worth $378,000 after buying an additional 612 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Best Buy by 69.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 61,588 shares of the technology retailer’s stock worth $4,377,000 after buying an additional 25,281 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in Best Buy in the first quarter worth approximately $206,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Best Buy by 7.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,687 shares of the technology retailer’s stock worth $973,000 after buying an additional 915 shares during the last quarter. Institutional investors and hedge funds own 78.12% of the company’s stock.

NYSE BBY opened at $67.54 on Friday. Best Buy Co Inc has a twelve month low of $47.72 and a twelve month high of $81.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.39 and a current ratio of 1.08. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.50 and a beta of 1.11. The firm’s 50 day moving average price is $67.05 and its two-hundred day moving average price is $69.68.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.09. The firm had revenue of $9.54 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Best Buy had a net margin of 3.52% and a return on equity of 48.56%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. On average, research analysts forecast that Best Buy Co Inc will post 5.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, September 18th. Best Buy’s dividend payout ratio (DPR) is currently 37.59%.

In other Best Buy news, Director Victor Kathy J. Higgins sold 10,000 shares of Best Buy stock in a transaction on Monday, July 1st. The shares were sold at an average price of $72.50, for a total transaction of $725,000.00. Following the completion of the sale, the director now owns 54,126 shares of the company’s stock, valued at approximately $3,924,135. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Todd G. Hartman sold 9,008 shares of Best Buy stock in a transaction on Monday, July 8th. The shares were sold at an average price of $72.01, for a total transaction of $648,666.08. Following the completion of the sale, the insider now directly owns 33,974 shares of the company’s stock, valued at approximately $2,446,467.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,381,448 shares of company stock valued at $101,304,357 in the last three months. Company insiders own 0.95% of the company’s stock.

Several research firms have issued reports on BBY. Goldman Sachs Group began coverage on shares of Best Buy in a research report on Thursday, July 11th. They issued a “neutral” rating and a $73.00 price target on the stock. Morgan Stanley decreased their price target on shares of Best Buy from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Bank of America set a $75.00 price target on shares of Best Buy and gave the stock a “hold” rating in a research report on Monday, August 26th. Wedbush restated a “buy” rating and issued a $63.00 price target on shares of Best Buy in a research report on Thursday, August 29th. Finally, Telsey Advisory Group decreased their price target on shares of Best Buy from $76.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.13.

About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

Further Reading: What does an equal weight rating mean?

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

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.