Crossmark Global Holdings Inc. Boosts Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Crossmark Global Holdings Inc. increased its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 202.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,647 shares of the technology retailer's stock after buying an additional 22,507 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Best Buy were worth $3,476,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BBY. Bleakley Financial Group LLC boosted its position in 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 purchasing an additional 311 shares during the last quarter. William Allan Corp lifted its position in shares of Best Buy by 1.0% in the first quarter. William Allan Corp now owns 26,549 shares of the technology retailer's stock valued at $2,178,000 after buying an additional 261 shares during the last quarter. Pettyjohn Wood & White Inc. lifted its position in shares of Best Buy by 4.0% in the first quarter. Pettyjohn Wood & White Inc. now owns 5,800 shares of the technology retailer's stock valued at $476,000 after buying an additional 225 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of 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 buying an additional 27,936 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Best Buy by 9.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 372,405 shares of the technology retailer's stock valued at $30,535,000 after buying an additional 32,546 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BBY has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Best Buy from $90.00 to $94.00 and gave the company an "in-line" rating in a research report on Friday, August 30th. Citigroup cut their price objective on Best Buy from $115.00 to $109.00 and set a "buy" rating for the company in a research report on Friday. UBS Group raised their price objective on Best Buy from $106.00 to $123.00 and gave the company a "buy" rating in a research report on Friday, August 30th. The Goldman Sachs Group raised their price objective on Best Buy from $95.00 to $116.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded Best Buy from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued 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 target price of $103.35.

Best Buy Price Performance

Shares of NYSE BBY traded down $0.09 during mid-day trading on Tuesday, hitting $89.20. 969,950 shares of the stock traded hands, compared to its average volume of 2,980,868. The company has a market cap of $19.15 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.33 and a beta of 1.47. Best Buy Co., Inc. has a twelve month low of $62.92 and a twelve month high of $103.71. The firm has a 50 day simple moving average of $96.37 and a two-hundred day simple moving average of $87.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 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 business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same period in the previous year, the company posted $1.22 EPS. The firm's revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Thursday, September 19th. Best Buy's dividend payout ratio is currently 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.