Moffett Nathanson started coverage on shares of Best Buy (NYSE:BBY) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a sell rating on the technology retailer’s stock.

Other research analysts have also recently issued research reports about the stock. UBS reissued a buy rating and set a $57.00 target price (down previously from $60.00) on shares of Best Buy in a report on Wednesday, September 20th. Piper Jaffray Companies reissued a buy rating and set a $68.00 target price on shares of Best Buy in a report on Thursday, September 21st. Jefferies Group reissued a hold rating and set a $60.00 target price on shares of Best Buy in a report on Wednesday, August 9th. Loop Capital reissued a buy rating and set a $72.00 target price on shares of Best Buy in a report on Wednesday, September 20th. Finally, Telsey Advisory Group reduced their target price on shares of Best Buy from $66.00 to $62.00 and set an outperform rating for the company in a report on Wednesday, September 20th. Four analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $58.81.

Best Buy (NYSE:BBY) opened at $60.97 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Best Buy has a fifty-two week low of $41.67 and a fifty-two week high of $63.32. The stock has a market cap of $18,118.40, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.29 and a beta of 1.40.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. During the same quarter last year, the company posted $0.60 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. analysts forecast that Best Buy will post 4.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.23%. Best Buy’s payout ratio is 34.34%.

In other news, major shareholder Richard M. Schulze sold 935,000 shares of Best Buy stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $60.18, for a total value of $56,268,300.00. Following the sale, the insider now owns 1,732,500 shares in the company, valued at $104,261,850. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total transaction of $58,800,000.00. The disclosure for this sale can be found here. Insiders sold 2,098,184 shares of company stock valued at $124,544,562 in the last ninety days. 1.21% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in Best Buy by 762.4% during the second quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after acquiring an additional 3,119,700 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Best Buy by 27.5% during the third quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after acquiring an additional 866,787 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Best Buy by 125.4% during the second quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock worth $79,563,000 after acquiring an additional 772,200 shares during the last quarter. APG Asset Management N.V. boosted its position in Best Buy by 27.6% during the third quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after acquiring an additional 723,500 shares during the last quarter. Finally, 1060 Capital LLC acquired a new position in Best Buy during the third quarter worth about $35,849,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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Best Buy 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.

Analyst Recommendations for Best Buy (NYSE:BBY)

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