Elo Mutual Pension Insurance Co Has $1.28 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Elo Mutual Pension Insurance Co lessened its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,132 shares of the technology retailer’s stock after selling 137 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Best Buy were worth $1,275,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BBY. Blair William & Co. IL raised its holdings in Best Buy by 4.5% during the 2nd quarter. Blair William & Co. IL now owns 47,759 shares of the technology retailer’s stock worth $4,026,000 after purchasing an additional 2,055 shares during the last quarter. O Brien Greene & Co. Inc grew its position in shares of Best Buy by 20.9% during the 2nd quarter. O Brien Greene & Co. Inc now owns 70,211 shares of the technology retailer’s stock worth $5,918,000 after buying an additional 12,153 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Best Buy by 17.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,882 shares of the technology retailer’s stock worth $3,064,000 after buying an additional 5,508 shares during the last quarter. Amalgamated Bank lifted its holdings in Best Buy by 1.7% in the second quarter. Amalgamated Bank now owns 65,227 shares of the technology retailer’s stock valued at $5,498,000 after buying an additional 1,084 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Best Buy by 10.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 207,098 shares of the technology retailer’s stock valued at $17,456,000 after acquiring an additional 19,763 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other Best Buy news, EVP Jason J. Bonfig sold 3,500 shares of Best Buy stock in a transaction on Monday, July 8th. The shares were sold at an average price of $83.02, for a total value of $290,570.00. Following the sale, the executive vice president now directly owns 50,714 shares in the company, valued at approximately $4,210,276.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the transaction, the executive vice president now owns 50,714 shares in the company, valued at approximately $4,210,276.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total value of $7,813,831.50. Following the sale, the chairman now owns 13,602,853 shares in the company, valued at approximately $1,200,451,777.25. The disclosure for this sale can be found here. Insiders have sold a total of 1,383,370 shares of company stock valued at $122,233,276 over the last 90 days. 0.59% of the stock is owned by corporate insiders.

Best Buy Trading Down 1.2 %

BBY opened at $97.27 on Friday. The firm’s fifty day simple moving average is $90.15 and its 200 day simple moving average is $83.45. The stock has a market capitalization of $20.98 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.56 and a beta of 1.46. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $103.71.

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

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a $0.94 dividend. The ex-dividend date is Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.87%. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BBY. Bank of America upped their target price on shares of Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. Citigroup increased their target price on Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. DA Davidson boosted their target price on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Wedbush increased their price target on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, BNP Paribas upgraded shares of Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.56.

Best Buy Company 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.