Teachers Retirement System of The State of Kentucky Decreases Stake in Best Buy Co., Inc. (NYSE:BBY)

Teachers Retirement System of The State of Kentucky lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 272,804 shares of the technology retailer’s stock after selling 4,148 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.13% of Best Buy worth $28,180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its holdings in shares of Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after purchasing an additional 3,025 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after acquiring an additional 19,405 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Best Buy by 11.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock worth $6,302,000 after acquiring an additional 7,663 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Best Buy by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after acquiring an additional 18,171 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Best Buy by 10.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 99,769 shares of the technology retailer’s stock worth $8,410,000 after acquiring an additional 9,785 shares during the period. 80.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Telsey Advisory Group decreased their target price on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Bank of America lifted their target price on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. UBS Group reduced their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. The Goldman Sachs Group raised their price target on Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Best Buy has a consensus rating of “Moderate Buy” and an average target price of $101.06.

Best Buy Stock Down 0.7 %

BBY stock opened at $86.75 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The firm has a market capitalization of $18.63 billion, a P/E ratio of 14.83, a P/E/G ratio of 2.21 and a beta of 1.44. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The company’s 50 day simple moving average is $92.52 and its 200-day simple moving average is $90.10.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. Best Buy’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.29 earnings per share. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.33%. Best Buy’s payout ratio is presently 64.27%.

Best Buy Company 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.