Foundry Partners LLC Has $7.85 Million Stock Holdings in Best Buy Co Inc (NYSE:BBY)
Foundry Partners LLC raised its stake in Best Buy Co Inc (NYSE:BBY) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 112,610 shares of the technology retailer’s stock after purchasing an additional 725 shares during the quarter. Foundry Partners LLC’s holdings in Best Buy were worth $7,852,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Best Buy by 0.9% during the 1st quarter. FMR LLC now owns 23,761,834 shares of the technology retailer’s stock worth $1,688,517,000 after purchasing an additional 215,871 shares during the last quarter. BlackRock Inc. grew its stake in Best Buy by 1.7% in the 1st quarter. BlackRock Inc. now owns 17,406,620 shares of the technology retailer’s stock valued at $1,236,916,000 after buying an additional 295,060 shares during the last quarter. Norges Bank acquired a new position in Best Buy in the 4th quarter valued at $145,454,000. Dimensional Fund Advisors LP grew its stake in Best Buy by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,414,905 shares of the technology retailer’s stock valued at $127,879,000 after buying an additional 171,050 shares during the last quarter. Finally, Newport Trust Co boosted its holdings in Best Buy by 0.7% in the 1st quarter. Newport Trust Co now owns 1,535,900 shares of the technology retailer’s stock valued at $109,141,000 after purchasing an additional 10,276 shares during the period. Hedge funds and other institutional investors own 78.39% of the company’s stock.
A number of research firms have recently commented on BBY. Cleveland Research reaffirmed a “neutral” rating on shares of Best Buy in a report on Tuesday, June 18th. Telsey Advisory Group reiterated an “outperform” rating and set a $106.00 target price (up previously from $104.00) on shares of VF in a research report on Thursday, July 25th. Jefferies Financial Group cut shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating and dropped their target price for the stock from $18.00 to $15.00 in a research report on Wednesday, April 24th. Guggenheim initiated coverage on shares of Best Buy in a research report on Monday, July 8th. They set a “buy” rating and a $80.00 target price for the company. Finally, Wedbush set a $79.00 target price on shares of Aimmune Therapeutics and gave the stock a “buy” rating in a research report on Friday, May 24th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.67.
Shares of BBY opened at $77.28 on Tuesday. The firm has a 50 day moving average of $71.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.39 and a current ratio of 1.12. The company has a market capitalization of $20.72 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 1.54 and a beta of 1.07. Best Buy Co Inc has a twelve month low of $47.72 and a twelve month high of $84.37.
Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 23rd. The technology retailer reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.14. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.14 billion. Best Buy had a net margin of 3.54% and a return on equity of 47.91%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that Best Buy Co Inc will post 5.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, June 13th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Wednesday, June 12th. Best Buy’s dividend payout ratio is presently 37.59%.
Best Buy Company Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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