Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,913 shares of the technology retailer’s stock after buying an additional 443 shares during the period. Assenagon Asset Management S.A.’s holdings in Best Buy were worth $1,437,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BBY. Palisade Asset Management LLC bought a new position in shares of Best Buy during the 1st quarter valued at about $27,000. Richardson Financial Services Inc. boosted its position in shares of Best Buy by 190.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after purchasing an additional 210 shares in the last quarter. PrairieView Partners LLC boosted its position in shares of Best Buy by 67.1% during the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 151 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Best Buy during the 2nd quarter valued at about $35,000. Finally, Whittier Trust Co. boosted its position in shares of Best Buy by 53.3% during the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock valued at $41,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Up 0.5 %

Shares of BBY stock opened at $90.92 on Friday. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $103.71. The firm’s fifty day simple moving average is $96.82 and its 200 day simple moving average is $87.04. The firm has a market capitalization of $19.52 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 2.37 and a beta of 1.46. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last posted its quarterly 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. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the previous year, the company earned $1.22 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side 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 dividend of $0.94 per share. The ex-dividend date was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 4.14%. Best Buy’s dividend payout ratio is currently 64.83%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BBY shares. Telsey Advisory Group raised their price objective on shares of Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Wedbush raised their target price on shares of Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Loop Capital raised their target price on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays raised their target price on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, The Goldman Sachs Group raised their target price on shares of Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.71.

About Best Buy

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.