XTX Topco Ltd Grows Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

XTX Topco Ltd boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 77.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 29,759 shares of the technology retailer's stock after purchasing an additional 12,961 shares during the period. XTX Topco Ltd's holdings in Best Buy were worth $3,074,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. boosted its holdings in shares of Best Buy by 190.9% in the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer's stock valued at $27,000 after acquiring an additional 210 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Best Buy in the second quarter valued at about $35,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the third quarter valued at about $40,000. Whittier Trust Co. lifted its stake 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 purchasing an additional 171 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in shares of Best Buy by 50.8% in the second quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer's stock valued at $42,000 after purchasing an additional 166 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Down 1.8 %

Best Buy stock traded down $1.63 during trading on Friday, reaching $88.17. The company had a trading volume of 3,295,408 shares, compared to its average volume of 3,763,939. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The stock's 50 day moving average price is $93.12 and its two-hundred day moving average price is $89.62. The firm has a market capitalization of $18.93 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 2.27 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $9.63 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Best Buy's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders 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 annualized dividend and a yield of 4.26%. Best Buy's dividend payout ratio is currently 64.27%.

Analysts Set New Price Targets

Several brokerages recently commented on BBY. Truist Financial reduced their price objective on shares of Best Buy from $107.00 to $95.00 and set a "hold" rating for the company in a research note on Wednesday, November 27th. Guggenheim reduced their price objective on shares of Best Buy from $110.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, November 29th. DA Davidson reiterated a "buy" rating and issued a $117.00 price objective on shares of Best Buy in a research note on Tuesday, October 15th. Bank of America raised their price objective on shares of Best Buy from $70.00 to $80.00 and gave the company an "underperform" rating in a research note on Friday, August 30th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $114.00 price objective (up previously from $100.00) on shares of Best Buy in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $101.06.

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.