Market Overview

Anthony Scaramucci's Hedge Fund Trade Of The Week: Best Buy (BBY)

Anthony Scaramucci said on CNBC's Fast Money that this week's hedge fund trade of the week is Best Buy Co., Inc. (NYSE: BBY).

He said that this stock is controversial and out of favor, but he likes it anyway, because it can deliver a best price in the market for the products it sells. It has the ability to generate a tremendous amount of cash, and it has a consistent return on invested capital of over 20%. BBY has a free cash flow yield of 19% and a dividend yield of 1.9%. The company announced this week that it is going to buy back 5 billion dollar worth of shares.

David Einhorn's Greenlight Capital, SAC Capital, Citadel LLC, and Whitney Tilson's T2 Partners LLC own this stock. Best Buy Co., Inc. (BBY) lost 1.88% today, and it closed at $31.77.

Posted-In: Anthony ScaramucciCNBC Long Ideas Fast Money Media Trading Ideas

 

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