Robeco Institutional Asset Management B.V. Acquires 59,883 Shares of Best Buy Co., Inc. (NYSE:BBY)

Robeco Institutional Asset Management B.V. raised its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 15.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 451,609 shares of the technology retailer's stock after purchasing an additional 59,883 shares during the period. Robeco Institutional Asset Management B.V. owned 0.21% of Best Buy worth $46,651,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy during the third quarter valued at $40,000. Phillips Wealth Planners LLC raised its position in shares of Best Buy by 10.7% in the third quarter. Phillips Wealth Planners LLC now owns 4,463 shares of the technology retailer's stock valued at $440,000 after buying an additional 432 shares during the last quarter. Affinity Investment Advisors LLC lifted its stake in shares of Best Buy by 6.4% during the third quarter. Affinity Investment Advisors LLC now owns 22,421 shares of the technology retailer's stock valued at $2,316,000 after buying an additional 1,343 shares during the period. Focus Financial Network Inc. acquired a new stake in Best Buy during the third quarter worth approximately $200,000. Finally, Cigna Investments Inc. New acquired a new position in Best Buy in the 3rd quarter valued at $223,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on BBY. Citigroup lifted their price target on Best Buy from $100.00 to $115.00 and gave the company a "buy" rating in a report on Friday, August 30th. Telsey Advisory Group upped their price target on Best Buy from $95.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, August 30th. Truist Financial boosted their target price on Best Buy from $86.00 to $107.00 and gave the stock a "hold" rating in a report on Friday, August 30th. Melius Research assumed coverage on shares of Best Buy in a research note on Monday, September 23rd. They set a "hold" rating and a $100.00 price objective for the company. Finally, Bank of America raised their target price on shares of Best Buy from $70.00 to $80.00 and gave the company an "underperform" rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.71.

Best Buy Price Performance

Shares of NYSE BBY traded down $0.47 during trading on Tuesday, hitting $92.35. The company had a trading volume of 1,185,778 shares, compared to its average volume of 2,981,906. The business's 50-day moving average is $96.90 and its 200 day moving average is $87.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The company has a market cap of $19.83 billion, a P/E ratio of 16.00, a PEG ratio of 2.38 and a beta of 1.47. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) 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 company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the previous year, the business earned $1.22 EPS. The company's revenue was down 3.1% on a year-over-year basis. Equities research analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy's dividend payout ratio (DPR) is presently 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.