KBC Group NV lowered its stake in Best Buy Co. (NYSE:BBY) by 31.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 181,743 shares of the technology retailer’s stock after selling 83,943 shares during the period. KBC Group NV owned about 0.06% of Best Buy worth $6,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. boosted its position in Best Buy by 100.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,725 shares of the technology retailer’s stock valued at $114,000 after buying an additional 1,866 shares during the period. Pacer Advisors Inc. boosted its position in Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock valued at $124,000 after buying an additional 253 shares during the period. Global X Management Co. LLC boosted its position in Best Buy by 128.9% in the second quarter. Global X Management Co. LLC now owns 5,379 shares of the technology retailer’s stock valued at $165,000 after buying an additional 3,029 shares during the period. Loomis Sayles & Co. L P boosted its position in Best Buy by 2,685.2% in the second quarter. Loomis Sayles & Co. L P now owns 5,821 shares of the technology retailer’s stock valued at $178,000 after buying an additional 5,612 shares during the period. Finally, Alambic Investment Management L.P. purchased a new position in Best Buy during the second quarter valued at approximately $211,000. Institutional investors own 86.45% of the company’s stock.

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

Best Buy Co. (NYSE:BBY) traded up 0.26% on Wednesday, reaching $45.74. 3,072,114 shares of the company traded hands. The stock has a market capitalization of $14.46 billion, a price-to-earnings ratio of 13.65 and a beta of 1.51. Best Buy Co. has a 52-week low of $25.31 and a 52-week high of $47.29. The firm has a 50 day moving average price of $40.49 and a 200 day moving average price of $35.55.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, November 17th. The technology retailer reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.15. The firm had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Best Buy had a return on equity of 24.18% and a net margin of 2.78%. Best Buy’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Equities research analysts predict that Best Buy Co. will post $3.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 2.46%. Best Buy’s dividend payout ratio is currently 33.73%.

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Several analysts have recently weighed in on BBY shares. Bank of America Corp. restated a “sell” rating and set a $29.00 price objective on shares of Best Buy in a research report on Wednesday, August 24th. Zacks Investment Research upgraded shares of Best Buy from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Tuesday, October 4th. SunTrust Banks Inc. restated a “buy” rating on shares of Best Buy in a research report on Wednesday, October 12th. Vetr upgraded shares of Best Buy from a “hold” rating to a “buy” rating and set a $39.59 price objective for the company in a research report on Thursday, September 8th. Finally, Citigroup Inc. boosted their price objective on shares of Best Buy from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. Best Buy has an average rating of “Hold” and a consensus target price of $38.64.

About Best Buy

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.

5 Day Chart for NYSE:BBY

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