15,003 Shares in Best Buy Co., Inc. (NYSE:BBY) Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 15,003 shares of the technology retailer’s stock, valued at approximately $1,550,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBY. Tidal Investments LLC lifted its holdings in Best Buy by 25.3% in the first quarter. Tidal Investments LLC now owns 15,080 shares of the technology retailer’s stock valued at $1,237,000 after buying an additional 3,044 shares during the period. Comerica Bank lifted its stake in Best Buy by 0.8% in the first quarter. Comerica Bank now owns 37,464 shares of the technology retailer’s stock valued at $3,073,000 after buying an additional 298 shares during the period. iA Global Asset Management Inc. boosted its holdings in shares of Best Buy by 761.4% during the 1st quarter. iA Global Asset Management Inc. now owns 5,246 shares of the technology retailer’s stock worth $430,000 after buying an additional 4,637 shares in the last quarter. PGGM Investments acquired a new stake in shares of Best Buy during the 1st quarter worth approximately $174,000. Finally, Cetera Investment Advisers increased its stake in shares of Best Buy by 155.0% in the 1st quarter. Cetera Investment Advisers now owns 54,480 shares of the technology retailer’s stock valued at $4,469,000 after acquiring an additional 33,115 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Trading Up 2.1 %

Shares of BBY stock opened at $90.05 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm 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. The business has a 50-day moving average price of $93.81 and a two-hundred day moving average price of $89.17. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Equities analysts anticipate that Best Buy Co., Inc. will post 6.19 EPS for the current fiscal year.

Best Buy Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently commented on BBY. Truist Financial lowered their target price on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday. Wedbush raised their price target on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. raised their target price on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Bank of America upped their price target on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.06.

Best Buy 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.