Best Buy Co., Inc. (NYSE:BBY) Stock Position Lifted by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its position in Best Buy Co., Inc. (NYSE:BBY) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,975 shares of the technology retailer’s stock after acquiring an additional 899 shares during the quarter. Pathstone Holdings LLC’s holdings in Best Buy were worth $3,511,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. increased its position in Best Buy by 10.5% in the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after buying an additional 3,025 shares during the period. GAMMA Investing LLC boosted its stake in shares of Best Buy by 78.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock worth $172,000 after acquiring an additional 898 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Best Buy by 27.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after buying an additional 19,405 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Best Buy by 11.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock worth $6,302,000 after buying an additional 7,663 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Best Buy by 13.3% during 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. 80.96% of the stock is currently owned by institutional investors.

Best Buy Trading Up 3.5 %

Shares of BBY opened at $89.54 on Monday. The stock has a 50 day simple moving average of $94.72 and a 200-day simple moving average of $88.84. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.23 billion, a PE ratio of 15.44, a PEG ratio of 2.26 and a beta of 1.47. Best Buy Co., Inc. has a 1 year low of $67.80 and a 1 year high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period last year, the business earned $1.22 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, sell-side 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 issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Thursday, September 19th. Best Buy’s payout ratio is 64.83%.

Wall Street Analysts Forecast Growth

BBY has been the subject of several research reports. UBS Group lifted their price target on Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday. BNP Paribas raised Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. Barclays upped their price target on Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.

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.