Itau Unibanco Holding S.A. Takes Position in Best Buy Co., Inc. (BBY)

Itau Unibanco Holding S.A. purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the third quarter, Holdings Channel reports. The firm purchased 2,850 shares of the technology retailer’s stock, valued at approximately $109,000.

Several other large investors also recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its stake in shares of Best Buy Co. by 170.5% in the third quarter. Ameriprise Financial Inc. now owns 5,710,836 shares of the technology retailer’s stock valued at $218,033,000 after buying an additional 3,599,363 shares during the period. Prudential Financial Inc. raised its stake in shares of Best Buy Co. by 89.3% in the third quarter. Prudential Financial Inc. now owns 1,859,290 shares of the technology retailer’s stock valued at $70,988,000 after buying an additional 876,968 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Best Buy Co. by 200.7% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,296,280 shares of the technology retailer’s stock valued at $35,926,000 after buying an additional 865,211 shares during the period. Two Sigma Advisers LP raised its stake in shares of Best Buy Co. by 94.8% in the third quarter. Two Sigma Advisers LP now owns 1,455,593 shares of the technology retailer’s stock valued at $55,575,000 after buying an additional 708,503 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Best Buy Co. during the third quarter valued at about $15,928,000. 86.57% of the stock is currently owned by institutional investors.

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

Shares of Best Buy Co., Inc. (NYSE:BBY) opened at 43.97 on Tuesday. Best Buy Co., Inc. has a 12-month low of $26.10 and a 12-month high of $49.40. The firm’s 50-day moving average is $43.93 and its 200 day moving average is $40.84. The stock has a market capitalization of $13.80 billion, a P/E ratio of 13.13 and a beta of 1.59.

Best Buy Co. (NYSE:BBY) last released its quarterly earnings data on Thursday, November 17th. The technology retailer reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.15. Best Buy Co. had a return on equity of 24.18% and a net margin of 2.78%. The business had revenue of $8.95 billion for the quarter, compared to the consensus estimate of $8.85 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Best Buy Co., Inc. will post $3.28 EPS for the current fiscal year.

“Itau Unibanco Holding S.A. Takes Position in Best Buy Co., Inc. (BBY)” was first posted by sleekmoney and is the sole property of of sleekmoney. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be viewed at http://sleekmoney.com/itau-unibanco-holding-s-a-takes-position-in-best-buy-co-inc-bby/1659854.html.

Several equities research analysts recently commented on BBY shares. Zacks Investment Research downgraded shares of Best Buy Co. from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, October 25th. Bank of America Corporation upgraded shares of Best Buy Co. from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 17th. Jefferies Group LLC reiterated a “buy” rating and set a $0.15 target price on shares of Best Buy Co. in a research report on Tuesday, November 22nd. Wedbush lifted their target price on shares of Best Buy Co. from $20.50 to $24.50 and gave the stock an “underperform” rating in a research report on Friday, November 18th. Finally, RBC Capital Markets lifted their target price on shares of Best Buy Co. from $42.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Friday, November 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $39.45.

In other news, major shareholder Richard M. Schulze sold 675,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $48.53, for a total transaction of $32,757,750.00. Following the transaction, the insider now owns 1,732,500 shares of the company’s stock, valued at approximately $84,078,225. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Richard M. Schulze sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $47.28, for a total value of $4,255,200.00. Following the transaction, the insider now directly owns 1,732,500 shares in the company, valued at approximately $81,912,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,006,138 shares of company stock worth $48,697,095. Corporate insiders own 1.21% of the company’s stock.

About Best Buy Co.

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 operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.

5 Day Chart for NYSE:BBY

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/itau-unibanco-holding-s-a-takes-position-in-best-buy-co-inc-bby/1659854.html

Receive News & Ratings for Best Buy Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *