Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 496.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,229 shares of the technology retailer's stock after buying an additional 39,307 shares during the quarter. Los Angeles Capital Management LLC's holdings in Best Buy were worth $4,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC grew its position in shares of Best Buy by 1.3% in the 3rd quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer's stock valued at $855,000 after buying an additional 103 shares during the last quarter. Greenleaf Trust grew its stake in shares of Best Buy by 1.2% in the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer's stock valued at $977,000 after buying an additional 108 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer's stock worth $276,000 after buying an additional 118 shares during the last quarter. Tobam raised its holdings in shares of Best Buy by 15.6% in the 2nd quarter. Tobam now owns 895 shares of the technology retailer's stock worth $75,000 after purchasing an additional 121 shares in the last quarter. Finally, Hoxton Planning & Management LLC increased its position in Best Buy by 3.7% during the third quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer's stock worth $360,000 after buying an additional 124 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Price Performance

BBY remained flat at $89.29 on Tuesday. The company had a trading volume of 1,105,674 shares, compared to its average volume of 2,981,488. The company has a market capitalization of $19.17 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 12-month low of $62.92 and a 12-month high of $103.71. The stock's fifty day simple moving average is $96.37 and its two-hundred day simple moving average is $87.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01.

Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping the consensus estimate of $1.16 by $0.18. The company had revenue of $9.29 billion for the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business's revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. On average, sell-side analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Thursday, September 19th. Best Buy's dividend payout ratio (DPR) is 64.83%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BBY shares. BNP Paribas raised Best Buy to a "strong-buy" rating in a research note on Thursday, August 29th. Evercore ISI lifted their price objective on Best Buy from $90.00 to $94.00 and gave the company an "in-line" rating in a report on Friday, August 30th. Citigroup decreased their target price on shares of Best Buy from $115.00 to $109.00 and set a "buy" rating for the company in a research report on Friday. Wells Fargo & Company increased their target price on shares of Best Buy from $80.00 to $95.00 and gave the company an "equal weight" rating in a research report on Friday, August 30th. Finally, StockNews.com upgraded shares of Best Buy from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $103.35.

About Best Buy

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.