AM Squared Ltd Sells 600 Shares of Best Buy Co., Inc. (NYSE:BBY)

AM Squared Ltd decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 37.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the technology retailer’s stock after selling 600 shares during the period. AM Squared Ltd’s holdings in Best Buy were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Adero Partners LLC bought a new stake in shares of Best Buy during the 3rd quarter valued at $209,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Best Buy by 37.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 369,485 shares of the technology retailer’s stock valued at $38,168,000 after buying an additional 100,135 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Best Buy by 12.0% during the 3rd quarter. Natixis Advisors LLC now owns 116,167 shares of the technology retailer’s stock valued at $12,000,000 after buying an additional 12,491 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Best Buy by 1.2% during the 3rd quarter. Empirical Finance LLC now owns 15,012 shares of the technology retailer’s stock valued at $1,551,000 after buying an additional 173 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Best Buy by 9.2% during the 3rd quarter. CIBC Asset Management Inc now owns 34,249 shares of the technology retailer’s stock valued at $3,538,000 after buying an additional 2,888 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of analyst reports. Evercore ISI lifted their target price on shares of Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research note on Friday, August 30th. Wedbush lifted their target price on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. BNP Paribas upgraded shares of Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. DA Davidson reiterated a “buy” rating and issued a $117.00 price target on shares of Best Buy in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.35.

Best Buy Stock Up 1.2 %

Shares of NYSE BBY opened at $92.66 on Friday. The firm’s 50-day moving average price is $95.70 and its 200-day moving average price is $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 capitalization of $19.90 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 2.43 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.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The company 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 annualized dividend and a yield of 4.06%. Best Buy’s payout ratio is 64.83%.

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.