Mirae Asset Global Investments Co. Ltd. Has $15.81 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 13.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,564 shares of the technology retailer's stock after buying an additional 18,171 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Best Buy worth $15,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. boosted its stake in shares of Best Buy by 190.9% in the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer's stock valued at $27,000 after buying an additional 210 shares during the period. Palisade Asset Management LLC bought a new stake in Best Buy during the first quarter worth $27,000. PrairieView Partners LLC lifted its stake in Best Buy by 67.1% during the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer's stock worth $31,000 after purchasing an additional 151 shares during the last quarter. Innealta Capital LLC bought a new stake in Best Buy during the second quarter worth $35,000. Finally, Whittier Trust Co. lifted its stake in Best Buy by 53.3% during the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer's stock worth $41,000 after purchasing an additional 171 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Trading Down 1.5 %

Best Buy stock traded down $1.44 during trading hours on Friday, reaching $92.68. 2,023,236 shares of the company's stock were exchanged, compared to its average volume of 3,004,361. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. The firm's 50 day simple moving average is $96.37 and its 200 day simple moving average is $86.72. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $103.71. The firm has a market capitalization of $19.99 billion, a PE ratio of 16.23, a PEG ratio of 2.58 and a beta of 1.46.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping 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 firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same period last year, the business posted $1.22 EPS. The business's revenue was down 3.1% compared to the same quarter last year. Research analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current 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 paid a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 4.06%. Best Buy's dividend payout ratio is presently 65.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BNP Paribas upgraded Best Buy to a "strong-buy" rating in a research note on Thursday, August 29th. Loop Capital upped their target price on Best Buy from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Wells Fargo & Company upped their target price on Best Buy from $80.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Friday, August 30th. The Goldman Sachs Group increased their price target on Best Buy from $95.00 to $116.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Finally, Barclays increased their price target on Best Buy from $81.00 to $95.00 and gave the company an "equal weight" rating in a research note on Friday, August 30th. One equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $103.71.

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.