8,882 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Vinva Investment Management Ltd

Vinva Investment Management Ltd bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,882 shares of the technology retailer’s stock, valued at approximately $908,000.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in shares of Best Buy by 25.3% during the first quarter. Tidal Investments LLC now owns 15,080 shares of the technology retailer’s stock valued at $1,237,000 after acquiring an additional 3,044 shares in the last quarter. Comerica Bank increased its holdings in shares of Best Buy by 0.8% during the first quarter. Comerica Bank now owns 37,464 shares of the technology retailer’s stock valued at $3,073,000 after acquiring an additional 298 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Best Buy by 761.4% during the first quarter. iA Global Asset Management Inc. now owns 5,246 shares of the technology retailer’s stock valued at $430,000 after acquiring an additional 4,637 shares in the last quarter. PGGM Investments bought a new stake in shares of Best Buy during the first quarter valued at approximately $174,000. Finally, Cetera Investment Advisers increased its holdings in shares of Best Buy by 155.0% during the first quarter. Cetera Investment Advisers now owns 54,480 shares of the technology retailer’s stock valued at $4,469,000 after acquiring an additional 33,115 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BBY. Barclays boosted their price objective on Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Evercore ISI boosted their price objective on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a report on Friday, August 30th. Loop Capital decreased their price target on Best Buy from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group upped their price target on Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Citigroup decreased their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Best Buy presently has an average rating of “Moderate Buy” and a consensus price target of $101.06.

Best Buy Stock Up 2.1 %

Shares of NYSE BBY opened at $90.05 on Friday. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.34. The business’s fifty day moving average price is $93.81 and its 200-day moving average price is $89.17. The stock has a market capitalization of $19.34 billion, a PE ratio of 15.39, a P/E/G ratio of 2.34 and a beta of 1.47.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.19 EPS for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.18%. Best Buy’s dividend payout ratio is presently 64.27%.

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.