Mn Services Vermogensbeheer B.V. Reduces Holdings in Best Buy Co., Inc. (NYSE:BBY)

Mn Services Vermogensbeheer B.V. cut its stake in Best Buy Co., Inc. (NYSE:BBY) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,325 shares of the technology retailer’s stock after selling 1,900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Best Buy were worth $7,678,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Richardson Financial Services Inc. lifted its holdings in shares of Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after purchasing an additional 210 shares during the last quarter. PrairieView Partners LLC increased its position in Best Buy by 67.1% during the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after buying an additional 151 shares during the period. Innealta Capital LLC purchased a new stake in Best Buy in the second quarter valued at approximately $35,000. Harbor Capital Advisors Inc. purchased a new stake in Best Buy in the third quarter valued at approximately $40,000. Finally, Whittier Trust Co. boosted its holdings in shares of Best Buy by 53.3% in the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock valued at $41,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the subject of several research reports. Citigroup upped their price target on shares of Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Truist Financial upped their target price on shares of Best Buy from $86.00 to $107.00 and gave the company a “hold” rating in a report on Friday, August 30th. Wedbush increased their target price on shares of Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Barclays boosted their price target 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. Finally, DA Davidson reaffirmed a “buy” rating and set a $117.00 price objective on shares of Best Buy in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.71.

Best Buy Price Performance

Shares of NYSE BBY opened at $92.84 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $103.71. The firm has a market capitalization of $19.94 billion, a P/E ratio of 16.01, a PEG ratio of 2.38 and a beta of 1.47. The company’s fifty day moving average is $96.98 and its two-hundred day moving average is $87.43.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter last year, the business earned $1.22 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio is currently 64.83%.

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.