Metis Global Partners LLC Sells 2,351 Shares of Best Buy Co., Inc. (NYSE:BBY)

Metis Global Partners LLC lowered its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 13.4% during the third quarter, HoldingsChannel reports. The firm owned 15,205 shares of the technology retailer’s stock after selling 2,351 shares during the quarter. Metis Global Partners LLC’s holdings in Best Buy were worth $1,571,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kingsview Wealth Management LLC acquired a new stake in Best Buy during the 1st quarter worth approximately $695,000. Tocqueville Asset Management L.P. raised its holdings in shares of Best Buy by 28.4% during the first quarter. Tocqueville Asset Management L.P. now owns 3,280 shares of the technology retailer’s stock worth $269,000 after acquiring an additional 725 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Best Buy by 9.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 360,592 shares of the technology retailer’s stock worth $29,486,000 after purchasing an additional 30,655 shares during the period. Acadian Asset Management LLC increased its holdings in Best Buy by 7,829.2% during the 1st quarter. Acadian Asset Management LLC now owns 21,488 shares of the technology retailer’s stock worth $1,762,000 after purchasing an additional 21,217 shares in the last quarter. Finally, Alerus Financial NA raised its stake in shares of Best Buy by 1.4% in the 1st quarter. Alerus Financial NA now owns 91,837 shares of the technology retailer’s stock valued at $7,533,000 after purchasing an additional 1,232 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

NYSE:BBY opened at $92.66 on Friday. The company has a market cap of $19.90 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.37 and a beta of 1.47. The firm’s fifty day moving average price is $95.70 and its two-hundred day moving average price is $88.12. Best Buy Co., Inc. has a one year low of $62.92 and a one year high of $103.71. 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 (NYSE:BBY) last announced 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. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. Best Buy’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 EPS. Equities analysts expect that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors 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 yield of 4.06%. Best Buy’s dividend payout ratio (DPR) is presently 64.83%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBY. Loop Capital increased their price objective on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Evercore ISI lifted their price objective on shares of Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a 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 report on Tuesday, October 15th. The Goldman Sachs Group raised their target price on shares of Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Barclays boosted their price target on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and a consensus price target of $103.35.

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.