Best Buy Co., Inc. (NYSE:BBY) Stock Holdings Raised by Global Retirement Partners LLC

Global Retirement Partners LLC raised its stake in Best Buy Co., Inc. (NYSE:BBY) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,581 shares of the technology retailer’s stock after purchasing an additional 520 shares during the period. Global Retirement Partners LLC’s holdings in Best Buy were worth $990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BBY. Ninety One UK Ltd bought a new stake in shares of Best Buy during the 2nd quarter valued at about $121,325,000. Thrivent Financial for Lutherans grew its position in shares of Best Buy by 4,337.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after buying an additional 1,074,718 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Best Buy by 55.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock valued at $241,347,000 after purchasing an additional 1,024,824 shares during the period. Swedbank AB acquired a new position in Best Buy during the 1st quarter valued at about $43,522,000. Finally, AQR Capital Management LLC boosted 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 purchasing an additional 491,781 shares during the period. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BBY. Evercore ISI boosted their target price on shares of Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Telsey Advisory Group boosted their target price on shares of Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. BNP Paribas raised shares of Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.71.

Best Buy Stock Down 0.1 %

BBY stock opened at $96.14 on Friday. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $103.71. The firm has a market cap of $20.74 billion, a PE ratio of 16.84, a P/E/G ratio of 2.58 and a beta of 1.46. The firm has a 50 day simple moving average of $95.36 and a 200 day simple moving average of $86.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34.

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

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.91%. Best Buy’s dividend payout ratio is currently 65.85%.

Insider Activity

In other news, Chairman Richard M. Schulze sold 88,542 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the sale, the chairman now owns 13,602,853 shares in the company, valued at $1,200,451,777.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Best Buy news, Chairman Richard M. Schulze sold 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total value of $52,974,000.00. Following the transaction, the chairman now owns 14,002,853 shares in the company, valued at approximately $1,236,311,891.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the completion of the transaction, the chairman now owns 13,602,853 shares in the company, valued at approximately $1,200,451,777.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

Best Buy Company 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.