Investors Buy Best Buy Co., Inc. (BBY) on Weakness

Traders bought shares of Best Buy Co., Inc. (NYSE:BBY) on weakness during trading on Tuesday. $58.19 million flowed into the stock on the tick-up and $38.70 million flowed out of the stock on the tick-down, for a money net flow of $19.49 million into the stock. Of all equities tracked, Best Buy Co. had the 30th highest net in-flow for the day. Best Buy Co. traded down ($1.87) for the day and closed at $57.17

Several equities analysts have recently issued reports on BBY shares. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a research report on Tuesday, August 29th. Barclays PLC reiterated a “buy” rating and set a $65.00 price target on shares of Best Buy Co. in a research report on Monday, August 28th. Deutsche Bank AG reiterated a “buy” rating and set a $58.00 price target (down from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Royal Bank Of Canada lifted their price target on Best Buy Co. from $60.00 to $61.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 30th. Finally, UBS AG reiterated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, two have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $59.19.

The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 15.13 and a beta of 1.51. The company has a 50 day moving average of $57.02 and a 200 day moving average of $55.12.

Best Buy Co. (NYSE:BBY) last released its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating 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 business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts expect that Best Buy Co., Inc. will post $4.06 EPS for the current year.

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy Co.’s dividend payout ratio is currently 35.88%.

In other Best Buy Co. news, CFO Corie S. Barry sold 3,134 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total transaction of $179,452.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Corie S. Barry sold 787 shares of the stock in a transaction dated 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 owns 54,159 shares of the company’s stock, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,259 shares of company stock valued at $9,182,693. Corporate insiders own 0.84% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. FNY Managed Accounts LLC increased its holdings in Best Buy Co. by 18,281.8% during the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after purchasing an additional 2,011 shares in the last quarter. Huntington National Bank increased its holdings in Best Buy Co. by 18.4% during the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after purchasing an additional 318 shares in the last quarter. Exane Derivatives increased its holdings in Best Buy Co. by 65.5% during the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after purchasing an additional 1,010 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Best Buy Co. during the 1st quarter worth about $147,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Best Buy Co. by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institution

Several equities analysts have recently issued reports on BBY shares. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a research report on Tuesday, August 29th. Barclays PLC reiterated a “buy” rating and set a $65.00 price target on shares of Best Buy Co. in a research report on Monday, August 28th. Deutsche Bank AG reiterated a “buy” rating and set a $58.00 price target (down from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Royal Bank Of Canada lifted their price target on Best Buy Co. from $60.00 to $61.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 30th. Finally, UBS AG reiterated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, two have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $59.19.

The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 15.13 and a beta of 1.51. The company has a 50 day moving average of $57.02 and a 200 day moving average of $55.12.

Best Buy Co. (NYSE:BBY) last released its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating 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 business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts expect that Best Buy Co., Inc. will post $4.06 EPS for the current year.

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy Co.’s dividend payout ratio is currently 35.88%.

In other Best Buy Co. news, CFO Corie S. Barry sold 3,134 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total transaction of $179,452.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Corie S. Barry sold 787 shares of the stock in a transaction dated 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 owns 54,159 shares of the company’s stock, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,259 shares of company stock valued at $9,182,693. Corporate insiders own 0.84% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. FNY Managed Accounts LLC increased its holdings in Best Buy Co. by 18,281.8% during the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after purchasing an additional 2,011 shares in the last quarter. Huntington National Bank increased its holdings in Best Buy Co. by 18.4% during the 2nd quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after purchasing an additional 318 shares in the last quarter. Exane Derivatives increased its holdings in Best Buy Co. by 65.5% during the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock worth $146,000 after purchasing an additional 1,010 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Best Buy Co. during the 1st quarter worth about $147,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Best Buy Co. by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 88.11% of the company’s stock.

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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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