49,700 Shares in Best Buy Co., Inc. (NYSE:BBY) Bought by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) in the third quarter, HoldingsChannel reports. The institutional investor purchased 49,700 shares of the technology retailer’s stock, valued at approximately $5,134,000. Best Buy comprises about 2.3% of Sustainable Insight Capital Management LLC’s holdings, making the stock its 11th biggest holding.

Other large investors also recently bought and sold shares of the company. Ninety One UK Ltd purchased a new position in Best Buy during the 2nd quarter worth approximately $121,325,000. Thrivent Financial for Lutherans boosted its holdings in shares of Best Buy by 4,337.6% in the second quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after acquiring an additional 1,074,718 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Best Buy by 55.7% in the second quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock valued at $241,347,000 after acquiring an additional 1,024,824 shares during the period. Swedbank AB purchased a new position in shares of Best Buy during the first quarter worth approximately $43,522,000. Finally, AQR Capital Management LLC increased its holdings in shares of Best Buy by 55.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after acquiring an additional 491,781 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BBY shares. Barclays increased their price target on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their price target on Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Melius Research began coverage on Best Buy in a research note on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective for the company. Evercore ISI lifted their target price on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research note on Friday, August 30th. Finally, Citigroup dropped their target price on Best Buy from $115.00 to $109.00 and set a “buy” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.35.

Best Buy Trading Down 1.0 %

Shares of BBY opened at $89.20 on Friday. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $103.71. 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 firm has a market capitalization of $19.15 billion, a P/E ratio of 15.38, a PEG ratio of 2.34 and a beta of 1.47. The firm’s 50-day moving average is $96.59 and its two-hundred day moving average is $87.56.

Best Buy (NYSE:BBY) last released its quarterly 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. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. On average, research analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is presently 64.83%.

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.