Mission Wealth Management LP Reduces Position in Best Buy Co., Inc. – 6.6% Decrease in First Quarter
Are you interested in investing in technology retail stocks? If so, you may want to take a closer look at Best Buy Co., Inc. (NYSE:BBY). Recently, Mission Wealth Management LP reduced its position in Best Buy by 6.6% in the first quarter, but several other hedge funds have also added to or reduced their stakes in the company.
Despite this, Best Buy’s stock is trading up 0.1% and has a market capitalization of $17.79 billion. The company recently reported quarterly earnings that beat expectations, with a net margin of 2.90% and a return on equity of 47.56%. Analysts have set new price targets for the stock, with an average rating of “Moderate Buy” and a consensus price target of $90.87.
Additionally, Best Buy recently announced a quarterly dividend, with a yield of 4.56%. Insider transactions have also been reported, with CEO Corie S. Barry and CAO Mathew Watson selling shares of the company.
Best Buy engages in the retail of technology products in the United States, Canada, and internationally. Their stores provide a wide range of products, including computing and mobile phone products, consumer electronics, and home theaters.
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