Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd lifted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 77.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,759 shares of the technology retailer’s stock after purchasing an additional 12,961 shares during the quarter. XTX Topco Ltd’s holdings in Best Buy were worth $3,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its stake in shares of Best Buy by 155.0% during the first quarter. Cetera Investment Advisers now owns 54,480 shares of the technology retailer’s stock worth $4,469,000 after acquiring an additional 33,115 shares during the last quarter. Cetera Advisors LLC acquired a new position in Best Buy during the 1st quarter valued at approximately $831,000. Park Avenue Securities LLC raised its holdings in shares of Best Buy by 18.1% in the second quarter. Park Avenue Securities LLC now owns 8,178 shares of the technology retailer’s stock worth $689,000 after buying an additional 1,251 shares during the last quarter. CWM LLC raised its holdings in shares of Best Buy by 174.4% in the second quarter. CWM LLC now owns 9,487 shares of the technology retailer’s stock worth $800,000 after buying an additional 6,030 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Best Buy by 45.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,125 shares of the technology retailer’s stock worth $95,000 after buying an additional 351 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Melius Research assumed coverage on Best Buy in a research note on Monday, September 23rd. They issued a “hold” rating and a $100.00 target price for the company. Evercore ISI raised their price objective on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upped their target price on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Telsey Advisory Group reduced their price target 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. Finally, UBS Group decreased their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.06.

Best Buy Stock Down 1.8 %

Shares of BBY opened at $88.17 on Friday. The firm has a market cap of $18.93 billion, a P/E ratio of 15.07, a PEG ratio of 2.27 and a beta of 1.44. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The stock’s 50 day moving average is $93.12 and its two-hundred day moving average is $89.62. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The company had revenue of $9.45 billion during 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 was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS. Analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.26%. The ex-dividend date is Tuesday, December 17th. Best Buy’s payout ratio is 64.27%.

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.