Vaughan Nelson Investment Management L.P. Has $38.17 Million Position in Best Buy Co., Inc. (NYSE:BBY)

Vaughan Nelson Investment Management L.P. raised its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 37.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 369,485 shares of the technology retailer's stock after acquiring an additional 100,135 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.17% of Best Buy worth $38,168,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. lifted its stake 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 purchasing an additional 210 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy in the third quarter worth about $40,000. Innealta Capital LLC acquired a new position in shares of Best Buy during the 2nd quarter valued at about $35,000. Whittier Trust Co. raised its stake in shares of 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 in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in Best Buy by 50.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer's stock worth $42,000 after purchasing an additional 166 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Trading Up 1.2 %

Shares of BBY opened at $92.66 on Friday. The stock has a 50 day simple moving average of $95.70 and a 200-day simple moving average of $88.22. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.90 billion, a PE ratio of 15.98, a PEG ratio of 2.37 and a beta of 1.47. Best Buy Co., Inc. has a 1 year low of $62.92 and a 1 year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping 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 business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The firm's quarterly revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

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 dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 4.06%. Best Buy's dividend payout ratio is 64.83%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup lowered their price target on Best Buy from $115.00 to $109.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Telsey Advisory Group lifted their price objective on Best Buy from $95.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, August 30th. Evercore ISI boosted their price objective on Best Buy from $90.00 to $94.00 and gave the stock an "in-line" rating in a research report on Friday, August 30th. UBS Group raised their price objective on shares of Best Buy from $106.00 to $123.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Finally, BNP Paribas upgraded shares of Best Buy to a "strong-buy" rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy currently has a consensus rating of "Moderate Buy" and an average target price of $103.35.

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.

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