Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Donaldson Capital Management LLC

Donaldson Capital Management LLC decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 4.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,290 shares of the technology retailer’s stock after selling 413 shares during the period. Donaldson Capital Management LLC’s holdings in Best Buy were worth $960,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its stake in Best Buy by 15.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 451,609 shares of the technology retailer’s stock valued at $46,651,000 after buying an additional 59,883 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Best Buy during the 3rd quarter valued at about $40,000. Phillips Wealth Planners LLC increased its stake in Best Buy by 10.7% during the 3rd quarter. Phillips Wealth Planners LLC now owns 4,463 shares of the technology retailer’s stock valued at $440,000 after buying an additional 432 shares during the period. Affinity Investment Advisors LLC increased its stake in Best Buy by 6.4% during the 3rd quarter. Affinity Investment Advisors LLC now owns 22,421 shares of the technology retailer’s stock valued at $2,316,000 after buying an additional 1,343 shares during the period. Finally, Focus Financial Network Inc. acquired a new position in Best Buy during the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $92.82 on Tuesday. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $103.71. The company has a 50-day moving average of $96.90 and a two-hundred day moving average of $87.32. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.37 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping the consensus estimate of $1.16 by $0.18. The business had revenue of $9.29 billion during 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 firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Dividend Announcement

The business 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. This represents a $3.76 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio is currently 64.83%.

Wall Street Analyst Weigh In

Several research firms have commented on BBY. UBS Group raised their target price on shares of Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company lifted their price objective 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. Loop Capital lifted their price objective on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Evercore ISI lifted their price objective on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research note on Friday, August 30th. Finally, Melius Research assumed coverage on shares of Best Buy in a research note on Monday, September 23rd. They issued a “hold” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and an average target price of $103.71.

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.