Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.5% in the third quarter, HoldingsChannel.com reports. The fund owned 74,325 shares of the technology retailer’s stock after selling 1,900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Best Buy were worth $7,678,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BBY. QRG Capital Management Inc. lifted its stake in Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after buying an additional 3,025 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Best Buy by 27.4% in the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after acquiring an additional 19,405 shares during the last quarter. National Pension Service raised its holdings in shares of Best Buy by 18.1% in the third quarter. National Pension Service now owns 397,504 shares of the technology retailer’s stock worth $41,062,000 after acquiring an additional 60,880 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its position in shares of Best Buy by 12.3% in the third quarter. Wetzel Investment Advisors Inc. now owns 3,370 shares of the technology retailer’s stock valued at $351,000 after acquiring an additional 369 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Best Buy by 15.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 451,609 shares of the technology retailer’s stock valued at $46,651,000 after acquiring an additional 59,883 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

NYSE BBY opened at $92.84 on Wednesday. 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 Co., Inc. has a 1-year low of $62.30 and a 1-year high of $103.71. The firm has a market capitalization of $19.94 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.38 and a beta of 1.47. The business’s 50-day simple moving average is $96.98 and its 200-day simple moving average is $87.43.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating 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 analysts’ expectations of $9.23 billion. During the same period in the previous year, the company posted $1.22 earnings per share. Best Buy’s revenue was down 3.1% compared to the same quarter last year. Equities 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. Investors of record on Thursday, September 19th were given 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 yield of 4.05%. Best Buy’s dividend payout ratio (DPR) is 64.83%.

Analyst Upgrades and Downgrades

BBY has been the subject of several analyst reports. StockNews.com raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Best Buy from $101.00 to $111.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. DA Davidson restated a “buy” rating and set a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. Piper Sandler reiterated an “overweight” rating and issued a $114.00 price target (up from $100.00) on shares of Best Buy in a report on Friday, August 30th. Finally, Barclays increased their price target on Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.71.

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.