Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Forsta AP Fonden

Forsta AP Fonden trimmed its position in Best Buy Co., Inc. (NYSE:BBY) by 19.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,700 shares of the technology retailer’s stock after selling 12,100 shares during the quarter. Forsta AP Fonden’s holdings in Best Buy were worth $5,341,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its holdings in Best Buy by 1.3% in the 3rd quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock worth $855,000 after buying an additional 103 shares during the last quarter. Greenleaf Trust boosted its holdings in Best Buy by 1.2% in the 3rd quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock worth $977,000 after buying an additional 108 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock worth $276,000 after buying an additional 118 shares during the last quarter. Tobam lifted its stake in Best Buy by 15.6% in the 2nd quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after purchasing an additional 121 shares in the last quarter. Finally, Hoxton Planning & Management LLC lifted its stake in Best Buy by 3.7% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock worth $360,000 after purchasing an additional 124 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on BBY shares. Truist Financial raised their target price on shares of Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Melius Research started coverage on shares of Best Buy in a research note on Monday, September 23rd. They issued a “hold” rating and a $100.00 target price on the stock. DA Davidson reissued a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. Telsey Advisory Group raised their target price on shares of Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Citigroup lifted their price target on shares of Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.71.

Best Buy Stock Down 1.2 %

Shares of NYSE BBY opened at $91.53 on Tuesday. The firm has a market cap of $19.74 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.58 and a beta of 1.46. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $103.71. The business’s 50 day moving average is $96.50 and its two-hundred day moving average is $86.80.

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

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 4.11%. Best Buy’s dividend payout ratio (DPR) is 65.85%.

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.