Marshall Wace LLP cut its holdings in Best Buy Co Inc (NYSE:BBY) by 56.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 564,091 shares of the technology retailer’s stock after selling 723,202 shares during the quarter. Marshall Wace LLP owned about 0.21% of Best Buy worth $44,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LFA Lugano Financial Advisors SA acquired a new stake in Best Buy during the 2nd quarter valued at $174,000. People s United Financial Inc. purchased a new position in shares of Best Buy during the 3rd quarter valued at $222,000. Hilltop Holdings Inc. purchased a new position in shares of Best Buy during the 3rd quarter valued at $225,000. Checchi Capital Advisers LLC purchased a new position in shares of Best Buy during the 3rd quarter valued at $234,000. Finally, Chemical Bank purchased a new position in shares of Best Buy during the 3rd quarter valued at $265,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

BBY has been the topic of a number of recent research reports. Barclays reaffirmed a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, August 29th. Morgan Stanley raised their price target on Best Buy from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 11th. Wedbush upgraded Best Buy from an “underperform” rating to a “neutral” rating and set a $65.00 price target on the stock in a research report on Wednesday, November 21st. Citigroup reduced their price target on Best Buy from $79.00 to $72.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 21st. Finally, Zacks Investment Research lowered Best Buy from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Thirteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $77.06.

In other news, SVP Mathew Watson sold 2,131 shares of Best Buy stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $77.88, for a total value of $165,962.28. Following the sale, the senior vice president now directly owns 18,131 shares in the company, valued at approximately $1,412,042.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Corie S. Barry sold 6,783 shares of Best Buy stock in a transaction that occurred on Friday, October 19th. The stock was sold at an average price of $72.80, for a total value of $493,802.40. Following the completion of the sale, the chief financial officer now owns 80,961 shares in the company, valued at $5,893,960.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,929 shares of company stock worth $896,005. Corporate insiders own 0.75% of the company’s stock.

Shares of BBY stock traded up $0.02 during trading hours on Thursday, reaching $62.28. The company’s stock had a trading volume of 5,244,648 shares, compared to its average volume of 3,576,272. The firm has a market cap of $16.90 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.04 and a beta of 1.02. Best Buy Co Inc has a one year low of $60.07 and a one year high of $84.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.28 and a current ratio of 1.10.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.56 billion. Best Buy had a return on equity of 44.41% and a net margin of 2.52%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. As a group, equities analysts predict that Best Buy Co Inc will post 5.19 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Tuesday, December 11th will be given a $0.45 dividend. The ex-dividend date is Monday, December 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.89%. Best Buy’s dividend payout ratio is currently 40.72%.

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Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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

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