Natixis Advisors LLC Boosts Holdings in Best Buy Co., Inc. (NYSE:BBY)

Natixis Advisors LLC increased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 12.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 116,167 shares of the technology retailer's stock after purchasing an additional 12,491 shares during the period. Natixis Advisors LLC owned 0.05% of Best Buy worth $12,000,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. increased its holdings in shares of Best Buy by 190.9% in the 2nd 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 during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the third quarter valued at about $40,000. Innealta Capital LLC acquired a new stake in shares of Best Buy during the second quarter worth about $35,000. Whittier Trust Co. increased its position in Best Buy by 53.3% in the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer's stock valued at $41,000 after acquiring an additional 171 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in Best Buy by 50.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer's stock valued at $42,000 after acquiring an additional 166 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 topic of several analyst reports. DA Davidson reiterated a "buy" rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. Loop Capital upped their price objective on shares of Best Buy from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. JPMorgan Chase & Co. lifted their target price 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. The Goldman Sachs Group raised their price objective on shares of Best Buy from $95.00 to $116.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Finally, Piper Sandler reiterated an "overweight" rating and set a $114.00 target price (up previously from $100.00) on shares of Best Buy in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $103.35.

Best Buy Price Performance

Shares of NYSE:BBY opened at $87.05 on Thursday. The business has a fifty day simple moving average of $95.11 and a 200-day simple moving average of $88.53. Best Buy Co., Inc. has a 52 week low of $67.38 and a 52 week high of $103.71. The company has a market cap of $18.69 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.28 and a beta of 1.47. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. The business 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 company's quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. Equities research analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a $0.94 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 4.32%. Best Buy's payout ratio is 64.83%.

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.