Andra AP fonden Has $27.98 Million Position in Best Buy Co., Inc. (NYSE:BBY)

Andra AP fonden grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 356.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 331,900 shares of the technology retailer’s stock after purchasing an additional 259,187 shares during the quarter. Andra AP fonden owned about 0.15% of Best Buy worth $27,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tobam boosted its holdings in shares of Best Buy by 15.6% during the 2nd quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after buying an additional 121 shares in the last quarter. LVW Advisors LLC boosted its stake in Best Buy by 2.3% during the second quarter. LVW Advisors LLC now owns 5,716 shares of the technology retailer’s stock worth $482,000 after acquiring an additional 130 shares in the last quarter. Rise Advisors LLC boosted its stake in Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after acquiring an additional 132 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Best Buy by 2.7% during the first quarter. MCF Advisors LLC now owns 5,087 shares of the technology retailer’s stock valued at $422,000 after purchasing an additional 134 shares during the period. Finally, Continuum Advisory LLC raised its position in shares of Best Buy by 34.7% during the second quarter. Continuum Advisory LLC now owns 578 shares of the technology retailer’s stock worth $49,000 after purchasing an additional 149 shares during the period. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BBY shares. Evercore ISI lifted their price target on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research note on Friday, August 30th. Loop Capital lifted their target price on Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Citigroup raised their price objective on Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wedbush increased their target price on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, UBS Group boosted their price target on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.56.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 691,328 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $88.46, for a total value of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Richard M. Schulze sold 600,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the sale, the chairman now owns 14,002,853 shares of the company’s stock, valued at $1,236,311,891.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the transaction, the chairman now directly owns 14,911,525 shares of the company’s stock, valued at approximately $1,319,073,501.50. The disclosure for this sale can be found here. Insiders sold 1,383,370 shares of company stock worth $122,233,276 in the last three months. 0.59% of the stock is owned by insiders.

Best Buy Stock Performance

NYSE BBY opened at $98.09 on Tuesday. The stock has a market capitalization of $21.16 billion, a PE ratio of 17.18, a P/E/G ratio of 2.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The company’s 50 day simple moving average is $87.66 and its two-hundred day simple moving average is $82.27. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $103.71.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. Analysts predict that Best Buy Co., Inc. will post 6.26 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Thursday, September 19th. Best Buy’s payout ratio is 65.85%.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.