8,882 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the third quarter, Holdings Channel.com reports. The fund acquired 8,882 shares of the technology retailer’s stock, valued at approximately $908,000.

Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in shares of Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after acquiring an additional 3,025 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Best Buy by 78.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock valued at $172,000 after acquiring an additional 898 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Best Buy by 27.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after acquiring an additional 19,405 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Best Buy by 11.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock valued at $6,302,000 after acquiring an additional 7,663 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Best Buy by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after acquiring an additional 18,171 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BBY. BNP Paribas raised Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. Barclays increased their price objective on Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Melius Research initiated coverage on Best Buy in a research report on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective on the stock. Wedbush increased their price objective on Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Loop Capital reduced their price objective on Best Buy from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.06.

Best Buy Trading Up 2.1 %

NYSE BBY opened at $90.05 on Friday. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.00. The stock has a 50 day simple moving average of $93.81 and a two-hundred day simple moving average of $89.17. The stock has a market cap of $19.34 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 2.34 and a beta of 1.47.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter last year, the business posted $1.22 EPS. The business’s revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that Best Buy Co., Inc. will post 6.19 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.18%. The ex-dividend date is Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.