Robeco Institutional Asset Management B.V. Acquires 59,883 Shares of Best Buy Co., Inc. (NYSE:BBY)

Robeco Institutional Asset Management B.V. raised its holdings in Best Buy Co., Inc. (NYSE:BBY) by 15.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 451,609 shares of the technology retailer’s stock after buying an additional 59,883 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.21% of Best Buy worth $46,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBY. Richardson Financial Services Inc. boosted its holdings 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 in the last quarter. PrairieView Partners LLC raised its position in shares of Best Buy by 67.1% in the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after acquiring an additional 151 shares in the last quarter. Innealta Capital LLC bought a new stake in Best Buy in the 2nd quarter valued at about $35,000. Harbor Capital Advisors Inc. bought a new stake in Best Buy in the 3rd quarter valued at about $40,000. Finally, Whittier Trust Co. raised its stake in shares of Best Buy by 53.3% in the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock worth $41,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. BNP Paribas raised Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. DA Davidson reaffirmed a “buy” rating and issued a $117.00 target price on shares of Best Buy in a report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on Best Buy from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Barclays increased their price objective on Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Finally, Bank of America increased their price objective on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.71.

Best Buy Trading Up 2.1 %

NYSE BBY opened at $92.82 on Tuesday. The stock’s 50-day simple moving average is $96.90 and its two-hundred day simple moving average is $87.32. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve 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. The company has a market capitalization of $19.93 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.37 and a beta of 1.48.

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. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same period last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Research analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.05%. Best Buy’s dividend payout ratio (DPR) is currently 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.