Mutual of America Capital Management LLC Has $2.50 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Mutual of America Capital Management LLC lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.5% during the third quarter, Holdings Channel reports. The fund owned 24,185 shares of the technology retailer’s stock after selling 114 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Best Buy were worth $2,498,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Raymond James & Associates grew its position in Best Buy by 1.8% during the 3rd quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer’s stock worth $355,374,000 after purchasing an additional 62,452 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Best Buy by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,055,743 shares of the technology retailer’s stock valued at $257,569,000 after buying an additional 235,478 shares during the period. Bank of New York Mellon Corp lifted its stake in Best Buy by 55.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock worth $241,347,000 after acquiring an additional 1,024,824 shares in the last quarter. Ninety One UK Ltd acquired a new stake in Best Buy during the 2nd quarter worth about $121,325,000. Finally, AQR Capital Management LLC grew its stake in Best Buy by 55.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after acquiring an additional 491,781 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their target price on shares of Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Barclays upped their price target on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Evercore ISI lifted their price objective on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research report on Friday, August 30th. Finally, Truist Financial upped their target price on Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.71.

Best Buy Trading Up 3.5 %

NYSE:BBY opened at $89.54 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $94.72 and its 200-day moving average is $88.73. The firm has a market cap of $19.23 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 2.26 and a beta of 1.47. Best Buy Co., Inc. has a 12 month low of $67.80 and a 12 month high of $103.71.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. Equities analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is currently 64.83%.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.