Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,980 shares of the technology retailer's stock after acquiring an additional 11,764 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.06% of Best Buy worth $13,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Richardson Financial Services Inc. increased its holdings 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 purchasing an additional 210 shares during the period. Innealta Capital LLC purchased a new position in Best Buy in the second quarter worth $35,000. Harbor Capital Advisors Inc. acquired a new position in Best Buy during the 3rd quarter valued at about $40,000. Whittier Trust Co. grew its stake in shares of 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 acquiring an additional 171 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of Best Buy by 50.8% during the second quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer's stock valued at $42,000 after acquiring an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

BBY stock traded up $1.34 during mid-day trading on Thursday, reaching $88.41. 2,829,136 shares of the company's stock were exchanged, compared to its average volume of 3,084,293. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The stock's 50 day moving average is $91.98 and its 200 day moving average is $90.19. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 2.21 and a beta of 1.44.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.04). The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. Best Buy's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, December 17th. Best Buy's dividend payout ratio is presently 64.27%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Melius Research initiated coverage on shares of Best Buy in a research report on Monday, September 23rd. They set a "hold" rating and a $100.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Best Buy from $111.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Guggenheim lowered their price target on Best Buy from $110.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 29th. StockNews.com lowered Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, UBS Group decreased their target price on Best Buy from $123.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $101.06.

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.