KBC Group NV Sells 46,066 Shares of Best Buy Co., Inc. (NYSE:BBY)

KBC Group NV trimmed its stake in Best Buy Co., Inc. (NYSE:BBY) by 10.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,595 shares of the technology retailer’s stock after selling 46,066 shares during the quarter. KBC Group NV owned approximately 0.17% of Best Buy worth $38,799,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd grew its stake in shares of Best Buy by 264.0% in the third quarter. Plato Investment Management Ltd now owns 8,799 shares of the technology retailer’s stock valued at $908,000 after buying an additional 6,382 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Best Buy in the 3rd quarter valued at about $678,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Best Buy during the 3rd quarter worth about $2,384,000. GHE LLC increased its stake in shares of Best Buy by 1.1% during the 3rd quarter. GHE LLC now owns 18,375 shares of the technology retailer’s stock worth $1,878,000 after purchasing an additional 199 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in shares of Best Buy by 17.4% in the 3rd quarter. Chase Investment Counsel Corp now owns 3,766 shares of the technology retailer’s stock valued at $389,000 after purchasing an additional 557 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Up 1.0 %

Shares of BBY stock opened at $91.59 on Friday. The stock has a market cap of $19.67 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 2.36 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. 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 50 day simple moving average of $95.97 and a 200 day simple moving average of $87.97.

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

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders 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 4.11%. Best Buy’s payout ratio is presently 64.83%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BBY shares. DA Davidson reissued a “buy” rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. The Goldman Sachs Group increased their price target on Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Barclays lifted their price objective on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Evercore ISI increased their price objective on shares of Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company raised their target price on shares of Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.