Trexquant Investment LP Invests $212,000 in Best Buy Co Inc (BBY) Stock

Trexquant Investment LP bought a new stake in Best Buy Co Inc (NYSE:BBY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,035 shares of the technology retailer’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Mexico Educational Retirement Board grew its stake in Best Buy by 3.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 25,521 shares of the technology retailer’s stock worth $1,747,000 after buying an additional 900 shares during the last quarter. Hanseatic Management Services Inc. grew its stake in shares of Best Buy by 31.6% during the first quarter. Hanseatic Management Services Inc. now owns 3,984 shares of the technology retailer’s stock valued at $279,000 after purchasing an additional 957 shares during the last quarter. Ibex Wealth Advisors grew its stake in shares of Best Buy by 2.0% during the fourth quarter. Ibex Wealth Advisors now owns 51,165 shares of the technology retailer’s stock valued at $3,565,000 after purchasing an additional 997 shares during the last quarter. FDx Advisors Inc. grew its stake in shares of Best Buy by 10.0% during the fourth quarter. FDx Advisors Inc. now owns 12,096 shares of the technology retailer’s stock valued at $828,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Best Buy by 14.9% during the fourth quarter. Profund Advisors LLC now owns 8,523 shares of the technology retailer’s stock valued at $584,000 after purchasing an additional 1,106 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on BBY. Wedbush set a $48.00 price target on shares of Best Buy and gave the company a “sell” rating in a research note on Sunday. ValuEngine cut shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday. Loop Capital set a $85.00 price target on shares of Best Buy and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Co set a $77.00 price target on shares of Best Buy and gave the company a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Best Buy from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Monday, May 14th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy currently has a consensus rating of “Hold” and an average target price of $71.50.

In related news, insider Patricia H. Walker sold 8,854 shares of the firm’s stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $73.63, for a total value of $651,920.02. Following the completion of the transaction, the insider now owns 26,698 shares of the company’s stock, valued at $1,965,773.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Corie S. Barry sold 399 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $72.45, for a total transaction of $28,907.55. Following the completion of the transaction, the chief financial officer now directly owns 81,206 shares of the company’s stock, valued at approximately $5,883,374.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 365,915 shares of company stock worth $25,672,749. 0.75% of the stock is currently owned by company insiders.

BBY opened at $68.45 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.06 and a beta of 0.91. Best Buy Co Inc has a twelve month low of $51.61 and a twelve month high of $79.90.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, May 24th. The technology retailer reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.08. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.75 billion. Best Buy had a net margin of 2.39% and a return on equity of 36.16%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. research analysts predict that Best Buy Co Inc will post 5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Thursday, June 14th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.63%. Best Buy’s payout ratio is 40.72%.

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 consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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

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