Sumitomo Mitsui Asset Management Company LTD lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 20,652 shares of the technology retailer’s stock after selling 1,509 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Best Buy Co. were worth $1,176,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BBY. Thrivent Financial For Lutherans boosted its position in Best Buy Co. by 4.1% during the 1st quarter. Thrivent Financial For Lutherans now owns 9,885 shares of the technology retailer’s stock worth $486,000 after acquiring an additional 390 shares during the period. DnB Asset Management AS boosted its position in Best Buy Co. by 7.2% during the 2nd quarter. DnB Asset Management AS now owns 29,888 shares of the technology retailer’s stock worth $1,713,000 after acquiring an additional 2,000 shares during the period. Xact Kapitalforvaltning AB boosted its position in Best Buy Co. by 6.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 52,880 shares of the technology retailer’s stock worth $3,032,000 after acquiring an additional 3,211 shares during the period. Fox Run Management L.L.C. acquired a new position in Best Buy Co. during the 2nd quarter worth $688,000. Finally, Charter Trust Co. boosted its position in Best Buy Co. by 3.2% during the 2nd quarter. Charter Trust Co. now owns 17,314 shares of the technology retailer’s stock worth $993,000 after acquiring an additional 540 shares during the period. Institutional investors own 88.28% of the company’s stock.

Best Buy Co., Inc. (NYSE BBY) opened at $56.92 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.42 and a quick ratio of 0.69. Best Buy Co., Inc. has a 52 week low of $37.10 and a 52 week high of $63.32. The company has a market capitalization of $17,029.59, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.14 and a beta of 1.42.

Best Buy Co. (NYSE:BBY) last issued its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. equities research analysts forecast that Best Buy Co., Inc. will post 4.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th were paid a $0.34 dividend. The ex-dividend date was Monday, September 18th. This represents a $1.36 dividend on an annualized basis and a yield of 2.39%. Best Buy Co.’s dividend payout ratio (DPR) is currently 35.88%.

In other Best Buy Co. news, insider Kathleen Scarlett sold 10,797 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total value of $566,734.53. Following the transaction, the insider now owns 25,690 shares in the company, valued at $1,348,468.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Corie S. Barry sold 787 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $47,157.04. Following the completion of the transaction, the chief financial officer now owns 54,159 shares in the company, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. Insiders sold 166,259 shares of company stock worth $9,182,693 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

BBY has been the topic of a number of research reports. Loop Capital reissued a “buy” rating and issued a $72.00 price objective on shares of Best Buy Co. in a research note on Monday, July 10th. Sanford C. Bernstein set a $47.00 price objective on Best Buy Co. and gave the stock a “sell” rating in a research note on Tuesday, July 11th. BidaskClub downgraded Best Buy Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. SunTrust Banks, Inc. set a $70.00 price objective on Best Buy Co. and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 price objective on shares of Best Buy Co. in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $58.97.

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Best Buy Co. Company Profile

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 has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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

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