Mount Lucas Management Lp Lowers stake in Best Buy Co Inc (BBY)

Best Buy Co Inc (BBY) : Mount Lucas Management Lp reduced its stake in Best Buy Co Inc by 1.34% during the most recent quarter end. The investment management company now holds a total of 363,151 shares of Best Buy Co Inc which is valued at $12,663,075 after selling 4,938 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 2.15% of Mount Lucas Management Lp’s portfolio.

Other Hedge Funds, Including , Dynamic Capital Management Ltd added BBY to its portfolio by purchasing 23,721 company shares during the most recent quarter which is valued at $827,151. Best Buy Co Inc makes up approx 0.09% of Dynamic Capital Management Ltd’s portfolio.Euclidean Technologies Management boosted its stake in BBY in the latest quarter, The investment management firm added 3,800 additional shares and now holds a total of 63,008 shares of Best Buy Co Inc which is valued at $2,197,089. Best Buy Co Inc makes up approx 2.22% of Euclidean Technologies Management’s portfolio.Nuveen Asset Management boosted its stake in BBY in the latest quarter, The investment management firm added 61,239 additional shares and now holds a total of 934,649 shares of Best Buy Co Inc which is valued at $32,591,211. Best Buy Co Inc makes up approx 0.20% of Nuveen Asset Management’s portfolio.United Services Automobile Association reduced its stake in BBY by selling 30 shares or 0.03% in the most recent quarter. The Hedge Fund company now holds 87,944 shares of BBY which is valued at $3,066,607. Best Buy Co Inc makes up approx 0.01% of United Services Automobile Association’s portfolio.I.g. Investment Management Ltd. boosted its stake in BBY in the latest quarter, The investment management firm added 33,393 additional shares and now holds a total of 58,293 shares of Best Buy Co Inc which is valued at $1,996,535. Best Buy Co Inc makes up approx 0.01% of I.g. Investment Management Ltd.’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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