Metis Global Partners LLC Sells 2,351 Shares of Best Buy Co., Inc. (NYSE:BBY)

Metis Global Partners LLC decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,205 shares of the technology retailer’s stock after selling 2,351 shares during the quarter. Metis Global Partners LLC’s holdings in Best Buy were worth $1,571,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Huntington National Bank raised its holdings in Best Buy by 22.0% in the 3rd quarter. Huntington National Bank now owns 2,102 shares of the technology retailer’s stock valued at $217,000 after acquiring an additional 379 shares in the last quarter. Plato Investment Management Ltd increased its position in shares of Best Buy by 264.0% during the third quarter. Plato Investment Management Ltd now owns 8,799 shares of the technology retailer’s stock valued at $908,000 after purchasing an additional 6,382 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Best Buy in the third quarter valued at $678,000. Oppenheimer Asset Management Inc. bought a new position in Best Buy in the third quarter worth $2,384,000. Finally, GHE LLC boosted its stake in Best Buy by 1.1% during the third quarter. GHE LLC now owns 18,375 shares of the technology retailer’s stock worth $1,878,000 after buying an additional 199 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Telsey Advisory Group raised their price target on shares of Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Loop Capital upped their price objective on Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 30th. UBS Group raised their target price on Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Wedbush upped their price target on Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.35.

Best Buy Trading Up 1.2 %

Shares of BBY opened at $92.66 on Friday. The stock’s fifty day simple moving average is $95.70 and its 200-day simple moving average is $88.12. The firm has a market capitalization of $19.90 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.37 and a beta of 1.47. Best Buy Co., Inc. has a 12-month low of $62.92 and a 12-month high of $103.71. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. As a group, research analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were given a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.06%. Best Buy’s dividend payout ratio is 64.83%.

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.