National Pension Service Grows Position in Best Buy Co., Inc. (NYSE:BBY)

National Pension Service grew its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 18.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 397,504 shares of the technology retailer's stock after purchasing an additional 60,880 shares during the period. National Pension Service owned approximately 0.19% of Best Buy worth $41,062,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Richardson Financial Services Inc. lifted its position in Best Buy by 190.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer's stock worth $27,000 after acquiring an additional 210 shares during the period. Innealta Capital LLC acquired a new stake in shares of Best Buy in the second quarter worth $35,000. Harbor Capital Advisors Inc. purchased a new position in shares of Best Buy during the third quarter worth $40,000. Whittier Trust Co. lifted its position in Best Buy by 53.3% during 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, EverSource Wealth Advisors LLC grew its position in Best Buy by 103.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer's stock worth $42,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on BBY. Telsey Advisory Group raised their target price on Best Buy from $95.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. Evercore ISI upped their price target on Best Buy from $90.00 to $94.00 and gave the stock an "in-line" rating in a report on Friday, August 30th. Barclays raised their price objective on Best Buy from $81.00 to $95.00 and gave the company an "equal weight" rating in a report on Friday, August 30th. BNP Paribas upgraded Best Buy to a "strong-buy" rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Best Buy from $101.00 to $111.00 and gave the company an "overweight" rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $103.71.

Best Buy Trading Up 0.8 %

BBY traded up $0.71 on Thursday, hitting $90.11. The company had a trading volume of 2,452,665 shares, compared to its average volume of 2,993,511. 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 cap of $19.35 billion, a P/E ratio of 15.54, a PEG ratio of 2.38 and a beta of 1.47. The company's fifty day moving average price is $97.01 and its 200 day moving average price is $87.45. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $103.71.

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

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, September 19th. Best Buy's payout ratio is 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.