United Services Automobile Association Has $9.53 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

United Services Automobile Association decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 28.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,237 shares of the technology retailer's stock after selling 36,337 shares during the period. United Services Automobile Association's holdings in Best Buy were worth $9,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Best Buy by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer's stock worth $636,840,000 after purchasing an additional 241,988 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Best Buy by 1.8% in the 3rd quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer's stock valued at $355,374,000 after purchasing an additional 62,452 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Best Buy by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,055,743 shares of the technology retailer's stock worth $257,569,000 after purchasing an additional 235,478 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Best Buy by 55.7% during the second quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer's stock worth $241,347,000 after purchasing an additional 1,024,824 shares during the period. Finally, Ninety One UK Ltd purchased a new position in Best Buy during the second quarter valued at approximately $121,325,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on BBY shares. StockNews.com lowered Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Citigroup dropped their target price on shares of Best Buy from $109.00 to $101.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Wedbush upped their price target on shares of Best Buy from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Friday, August 30th. Truist Financial cut their price objective on Best Buy from $107.00 to $95.00 and set a "hold" rating for the company in a research report on Wednesday, November 27th. Finally, BNP Paribas raised Best Buy to a "strong-buy" rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $101.06.

Best Buy Trading Down 1.8 %

Shares of BBY stock traded down $1.63 on Friday, reaching $88.17. The company had a trading volume of 3,295,408 shares, compared to its average volume of 3,763,939. The stock has a market cap of $18.93 billion, a PE ratio of 15.07, a PEG ratio of 2.27 and a beta of 1.44. The company has a 50-day moving average of $92.84 and a 200-day moving average of $89.84. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71.

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

Best Buy Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.26%. Best Buy's dividend payout ratio is presently 64.27%.

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.