Banque Cantonale Vaudoise Has $4.67 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Banque Cantonale Vaudoise lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,163 shares of the technology retailer’s stock after selling 2,077 shares during the period. Banque Cantonale Vaudoise’s holdings in Best Buy were worth $4,666,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. raised its position in shares of Best Buy by 190.9% during the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after acquiring an additional 210 shares during the last quarter. Innealta Capital LLC bought a new stake in Best Buy during the 2nd quarter worth about $35,000. Harbor Capital Advisors Inc. acquired a new position in Best Buy during the 3rd quarter valued at about $40,000. Whittier Trust Co. grew its position in shares of Best Buy by 53.3% during the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock worth $41,000 after buying an additional 171 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Best Buy by 103.6% during the first quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer’s stock worth $42,000 after buying an additional 259 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE:BBY opened at $87.00 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. Best Buy Co., Inc. has a 1 year low of $62.92 and a 1 year high of $103.71. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 2.43 and a beta of 1.47. The company’s 50 day simple moving average is $95.33 and its 200 day simple moving average is $88.54.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. As a group, research analysts predict that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio is currently 64.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BBY shares. BNP Paribas raised shares of Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. Piper Sandler reiterated an “overweight” rating and set a $114.00 target price (up from $100.00) on shares of Best Buy in a report on Friday, August 30th. UBS Group raised their price target on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company upped their target price on Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, Bank of America upped their price objective on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.35.

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.