Hrs Investment Holdings Lowers stake in Best Buy Co Inc (BBY)

Best Buy Co Inc (BBY) : Hrs Investment Holdings reduced its stake in Best Buy Co Inc by 25.0% during the most recent quarter end. The investment management company now holds a total of 30,000 shares of Best Buy Co Inc which is valued at $1,046,100 after selling 10,000 shares in Best Buy Co Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Best Buy Co Inc makes up approximately 0.96% of Hrs Investment Holdings’s portfolio.

Other Hedge Funds, Including , Teachers Retirement System Of The State Of Kentucky boosted its stake in BBY in the latest quarter, The investment management firm added 404,600 additional shares and now holds a total of 645,825 shares of Best Buy Co Inc which is valued at $22,519,918. Best Buy Co Inc makes up approx 0.28% of Teachers Retirement System Of The State Of Kentucky’s portfolio.Ontario Teachers Pension Plan Board boosted its stake in BBY in the latest quarter, The investment management firm added 5,536 additional shares and now holds a total of 47,721 shares of Best Buy Co Inc which is valued at $1,664,031. Best Buy Co Inc makes up approx 0.02% of Ontario Teachers Pension Plan Board’s portfolio.Tiaa Cref Investment Management reduced its stake in BBY by selling 1,458,045 shares or 33.43% in the most recent quarter. The Hedge Fund company now holds 2,903,042 shares of BBY which is valued at $101,229,075. Best Buy Co Inc makes up approx 0.07% of Tiaa Cref Investment Management’s portfolio.Calvert Investment Management boosted its stake in BBY in the latest quarter, The investment management firm added 1,620 additional shares and now holds a total of 19,176 shares of Best Buy Co Inc which is valued at $656,778. Best Buy Co Inc makes up approx 0.03% of Calvert Investment Management’s portfolio.Louisiana State Employees Retirement System reduced its stake in BBY by selling 300 shares or 1.6% in the most recent quarter. The Hedge Fund company now holds 18,500 shares of BBY which is valued at $613,090. Best Buy Co Inc makes up approx 0.03% of Louisiana State Employees Retirement System’s portfolio.

Best Buy Co Inc opened for trading at $38.555 and hit $38.78 on the upside on Thursday, eventually ending the session at $38.54, with a gain of 0.16% or 0.06 points. The heightened volatility saw the trading volume jump to 53,17,436 shares. Company has a market cap of $12,439 M.

On the company’s financial health, Best Buy Co Inc reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $0.43. The company had revenue of $8533.00 million for the quarter, compared to analysts expectations of $8388.75 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Investors should note that on Aug 24, 2016, Best Buy Co Inc announced a cash dividend of $0.2800. The company’s management has announced Sep 9, 2016 as the ex-dividend date and fixed the record date on Sep 13, 2016. The payable date has been fixed on Oct 4, 2016.

Many Wall Street Analysts have commented on Best Buy Co Inc. Company shares were Reiterated by Telsey Advisory Group on Aug 24, 2016 to “Outperform”, Firm has raised the Price Target to $ 42 from a previous price target of $36 .Company shares were Reiterated by RBC Capital Mkts on Aug 24, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 42 from a previous price target of $36 .Company shares were Reiterated by Deutsche Bank on Aug 24, 2016 to “Hold”, Firm has raised the Price Target to $ 41 from a previous price target of $32 .

Best Buy Co. Inc. is a provider of technology products services and solutions. The Company offers service to the consumers small business owners and educators who visit its stores engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories operating e-commerce retail store and call center operations under a range of brand names including Best Buy (bestbuy.com) Best Buy Mobile Geek Squad Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition the Company operates Magnolia Home Theater Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.

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