Virginia Retirement Systems ET AL Has $11.019 Million Position in Best Buy Co Inc (BBY)

Virginia Retirement Systems ET AL boosted its stake in Best Buy Co Inc (NYSE:BBY) by 4.9% during the first quarter, Holdings Channel reports. The fund owned 224,200 shares of the technology retailer’s stock after buying an additional 10,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in Best Buy Co were worth $11,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Asset Management Inc. increased its position in Best Buy Co by 5.2% in the third quarter. Rothschild Asset Management Inc. now owns 15,244 shares of the technology retailer’s stock valued at $582,000 after buying an additional 753 shares during the last quarter. World Asset Management Inc increased its position in Best Buy Co by 1.2% in the third quarter. World Asset Management Inc now owns 31,832 shares of the technology retailer’s stock valued at $1,215,000 after buying an additional 383 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Best Buy Co by 1.3% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 23,075 shares of the technology retailer’s stock valued at $881,000 after buying an additional 290 shares during the last quarter. Capital Fund Management S.A. increased its position in Best Buy Co by 275.2% in the third quarter. Capital Fund Management S.A. now owns 48,997 shares of the technology retailer’s stock valued at $1,871,000 after buying an additional 35,939 shares during the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp increased its position in Best Buy Co by 9.5% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 230,453 shares of the technology retailer’s stock valued at $8,799,000 after buying an additional 20,054 shares during the last quarter. Institutional investors own 86.57% of the company’s stock.

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

Best Buy Co Inc (NYSE:BBY) traded up 1.38% during midday trading on Friday, reaching $51.33. The company had a trading volume of 2,500,450 shares. The stock has a market capitalization of $15.87 billion, a PE ratio of 13.49 and a beta of 1.59. The firm’s 50 day moving average is $50.28 and its 200 day moving average is $45.86. Best Buy Co Inc has a 1-year low of $28.76 and a 1-year high of $52.67. Best Buy Co also was the recipient of some unusual options trading on Tuesday. Stock traders acquired 428 put options on the stock. This is an increase of approximately 126% compared to the typical daily volume of 189 put options.

Best Buy Co (NYSE:BBY) last released its quarterly earnings results on Wednesday, March 1st. The technology retailer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.28. Best Buy Co had a return on equity of 24.18% and a net margin of 2.78%. The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $13.61 billion. During the same quarter last year, the firm posted $1.53 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Best Buy Co Inc will post $3.69 EPS for the current fiscal year.

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Several analysts have issued reports on BBY shares. Zacks Investment Research cut Best Buy Co from a “strong-buy” rating to a “sell” rating in a research report on Thursday, February 2nd. Sanford C. Bernstein started coverage on Best Buy Co in a research report on Monday, February 6th. They set an “underperform” rating and a $34.00 target price on the stock. Barclays PLC set a $50.00 target price on Best Buy Co and gave the company a “buy” rating in a research report on Saturday, February 18th. Loop Capital reaffirmed a “buy” rating and set a $58.00 target price on shares of Best Buy Co in a research report on Wednesday, February 22nd. Finally, Jefferies Group LLC increased their target price on Best Buy Co from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Best Buy Co currently has a consensus rating of “Hold” and an average price target of $44.21.

In related news, VP Mathew Watson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $44.59, for a total transaction of $44,590.00. Following the transaction, the vice president now directly owns 16,320 shares of the company’s stock, valued at approximately $727,708.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Victor Kathy J. Higgins sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $47.73, for a total value of $357,975.00. Following the transaction, the director now directly owns 42,510 shares in the company, valued at $2,029,002.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,029 shares of company stock worth $19,817,710. Insiders own 1.21% 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.

5 Day Chart for NYSE:BBY

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