Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Stevens Capital Management LP

Stevens Capital Management LP boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,884 shares of the technology retailer’s stock after buying an additional 1,266 shares during the period. Stevens Capital Management LP’s holdings in Best Buy were worth $711,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Ninety One UK Ltd purchased a new stake in shares of Best Buy in the second quarter valued at approximately $121,325,000. Thrivent Financial for Lutherans grew its position in shares of Best Buy by 4,337.6% in the second quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after purchasing an additional 1,074,718 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Best Buy by 55.7% in the second 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 in the last quarter. AQR Capital Management LLC grew its position in shares of Best Buy by 55.4% in the second 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 in the last quarter. Finally, Raymond James & Associates grew its position in shares of Best Buy by 17.0% in the second quarter. Raymond James & Associates now owns 3,377,763 shares of the technology retailer’s stock valued at $284,712,000 after purchasing an additional 490,801 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of BBY stock opened at $90.50 on Thursday. The stock’s 50-day moving average is $93.33 and its two-hundred day moving average is $89.62. The firm has a market cap of $19.43 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 2.28 and a beta of 1.44. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period in the prior year, the business earned $1.29 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be given a $0.94 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.15%. Best Buy’s payout ratio is currently 64.27%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BBY shares. DA Davidson restated a “buy” rating and issued a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. BNP Paribas upgraded Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company decreased their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 27th. UBS Group decreased their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Loop Capital decreased their price target on Best Buy from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and an average target price of $101.06.

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.