Catalyst Capital Advisors LLC lessened its holdings in Best Buy Co., Inc. (NYSE:BBY) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,926 shares of the technology retailer’s stock after selling 21,894 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Best Buy Co. were worth $3,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB grew its position in shares of Best Buy Co. by 0.3% during the 2nd quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock worth $860,000 after buying an additional 48 shares during the period. Advisor Group Inc. grew its position in shares of Best Buy Co. by 1.2% during the 2nd quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock worth $265,000 after buying an additional 55 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Best Buy Co. by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after buying an additional 163 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Best Buy Co. by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock worth $576,000 after buying an additional 170 shares during the period. Finally, Financial Advisors Network Inc. grew its position in shares of Best Buy Co. by 2.3% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock worth $433,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

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Shares of Best Buy Co., Inc. (NYSE BBY) traded up $0.52 during mid-day trading on Tuesday, reaching $56.35. The company’s stock had a trading volume of 4,153,800 shares, compared to its average volume of 4,483,838. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Best Buy Co., Inc. has a 12-month low of $41.67 and a 12-month high of $63.32. The company has a market capitalization of $16,920.00, a P/E ratio of 13.89, a P/E/G ratio of 1.16 and a beta of 1.42.

Best Buy Co. (NYSE:BBY) last announced its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. Best Buy Co. had a return on equity of 22.46% and a net margin of 2.55%. The firm had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. equities analysts forecast that Best Buy Co., Inc. will post 4.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be given a $0.34 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $1.36 annualized dividend and a yield of 2.41%. Best Buy Co.’s payout ratio is currently 34.43%.

Several research firms recently issued reports on BBY. UBS AG reissued a “buy” rating and issued a $57.00 price target (down previously from $60.00) on shares of Best Buy Co. in a research report on Wednesday, September 20th. Piper Jaffray Companies reissued a “buy” rating and issued a $68.00 price target on shares of Best Buy Co. in a research report on Thursday, September 21st. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Best Buy Co. in a research report on Thursday, November 16th. Jefferies Group LLC reissued a “hold” rating and issued a $60.00 price target on shares of Best Buy Co. in a research report on Wednesday, August 9th. Finally, Loop Capital reissued a “buy” rating and issued a $72.00 price target on shares of Best Buy Co. in a research report on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Best Buy Co. currently has an average rating of “Buy” and an average price target of $58.86.

In related news, VP Mathew Watson sold 1,129 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $61,733.72. Following the completion of the transaction, the vice president now owns 17,764 shares in the company, valued at $971,335.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Hubert Joly sold 106,942 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $5,847,588.56. Following the transaction, the chief executive officer now owns 645,222 shares of the company’s stock, valued at approximately $35,280,738.96. The disclosure for this sale can be found here. Insiders sold 145,799 shares of company stock valued at $7,956,730 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

Best Buy Co. 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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