12,295 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Versor Investments LP

Versor Investments LP bought a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,295 shares of the technology retailer's stock, valued at approximately $1,270,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. increased its holdings in 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 acquiring an additional 210 shares during the last quarter. Innealta Capital LLC acquired a new position in Best Buy during the 2nd quarter valued at approximately $35,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the 3rd quarter valued at $40,000. Whittier Trust Co. boosted its holdings 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 buying an additional 171 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Best Buy by 103.6% during the first quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer's stock valued at $42,000 after purchasing an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

Shares of BBY stock traded up $0.91 during trading hours on Tuesday, hitting $90.20. 2,773,588 shares of the company's stock were exchanged, compared to its average volume of 2,989,101. The stock's 50-day moving average is $96.37 and its 200-day moving average is $87.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The stock has a market cap of $19.37 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.33 and a beta of 1.47. Best Buy Co., Inc. has a 52 week low of $62.92 and a 52 week high of $103.71.

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 (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. 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 posted $1.22 earnings per share. The firm's revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy's dividend payout ratio (DPR) is presently 64.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BBY shares. Melius Research began coverage on shares of Best Buy in a research report on Monday, September 23rd. They set a "hold" rating and a $100.00 price objective for the company. StockNews.com upgraded shares of Best Buy from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Truist Financial increased their price objective on shares of Best Buy from $86.00 to $107.00 and gave the company a "hold" rating in a research note on Friday, August 30th. Citigroup decreased their price target on shares of Best Buy from $115.00 to $109.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Wedbush raised 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.