Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 15.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 57,873 shares of the technology retailer’s stock after acquiring an additional 7,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Best Buy were worth $4,878,000 as of its most recent SEC filing.

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

Best Buy Price Performance

NYSE BBY opened at $97.30 on Monday. 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 firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.46. The company has a 50 day simple moving average of $90.15 and a 200-day simple moving average of $83.54. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. Best Buy’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. Equities research 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 declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 3.86%. Best Buy’s dividend payout ratio is 65.85%.

Insider Activity at Best Buy

In other Best Buy news, EVP Jason J. Bonfig sold 3,500 shares of Best Buy stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 50,714 shares in the company, valued at $4,210,276.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Richard M. Schulze sold 691,328 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the sale, the chairman now owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jason J. Bonfig sold 3,500 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 50,714 shares of the company’s stock, valued at $4,210,276.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,383,370 shares of company stock valued at $122,233,276. 0.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wedbush increased their price target on Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. DA Davidson raised their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, May 31st. The Goldman Sachs Group boosted their price target on shares of Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Telsey Advisory Group raised their price objective on shares of Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company increased their target price on shares of Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Best Buy presently has a consensus rating of “Moderate Buy” and an average price target of $102.56.

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.