Caisse DE Depot ET Placement DU Quebec Sells 5,800 Shares of Best Buy Co., Inc. (NYSE:BBY)

Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 80,928 shares of the technology retailer’s stock after selling 5,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Best Buy were worth $8,360,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. raised its holdings in shares of Best Buy by 190.9% during the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after acquiring an additional 210 shares during the period. Innealta Capital LLC bought a new stake in shares of Best Buy in the second quarter valued at about $35,000. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy in the third quarter valued at about $40,000. Whittier Trust Co. boosted its position in shares of Best Buy by 53.3% during the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock worth $41,000 after buying an additional 171 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Best Buy by 103.6% during the first quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer’s stock worth $42,000 after buying an additional 259 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BBY shares. Wedbush upped their price target on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. UBS Group reduced their target price on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Telsey Advisory Group lowered their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. Evercore ISI increased their price objective on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research note on Friday, August 30th. Finally, StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and an average price target of $101.06.

Best Buy Price Performance

NYSE:BBY opened at $90.92 on Tuesday. The company has a market cap of $19.52 billion, a P/E ratio of 15.54, a P/E/G ratio of 2.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.34. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The firm’s fifty day moving average price is $93.67 and its two-hundred day moving average price is $89.50.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be paid 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 4.14%. Best Buy’s dividend payout ratio (DPR) is currently 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.