Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 585,019 shares of the technology retailer's stock after selling 164,850 shares during the quarter. Victory Capital Management Inc. owned approximately 0.27% of Best Buy worth $60,432,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BBY. Bleakley Financial Group LLC boosted its position in shares of Best Buy by 5.4% during the first quarter. Bleakley Financial Group LLC now owns 6,025 shares of the technology retailer's stock valued at $494,000 after buying an additional 311 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Best Buy by 11.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 263,849 shares of the technology retailer's stock valued at $20,651,000 after purchasing an additional 27,936 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Best Buy by 9.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 372,405 shares of the technology retailer's stock worth $30,535,000 after acquiring an additional 32,546 shares in the last quarter. SageView Advisory Group LLC purchased a new position in Best Buy in the 1st quarter valued at about $309,000. Finally, Kingsview Wealth Management LLC purchased a new position in Best Buy in the 1st quarter valued at approximately $695,000. 80.96% of the stock is owned by institutional investors.

Best Buy Trading Up 1.3 %

Shares of Best Buy stock traded up $1.21 on Friday, reaching $92.79. The company had a trading volume of 1,645,186 shares, compared to its average volume of 2,979,193. The firm's 50-day moving average price is $95.81 and its two-hundred day moving average price is $88.00. Best Buy Co., Inc. has a 1 year low of $62.92 and a 1 year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 2.37 and a beta of 1.47.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share 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 business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same period in the prior year, the company earned $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 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were given a dividend of $0.94 per share. 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 (DPR) is currently 64.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BBY shares. BNP Paribas raised shares of Best Buy to a "strong-buy" rating in a report on Thursday, August 29th. Loop Capital upped their target price on shares of Best Buy from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Evercore ISI lifted their price target on shares of Best Buy from $90.00 to $94.00 and gave the company an "in-line" rating in a report on Friday, August 30th. UBS Group boosted their target price on shares of Best Buy from $106.00 to $123.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company boosted their price target on shares of Best Buy from $80.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $103.35.

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.