MML Investors Services LLC Has $1.53 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

MML Investors Services LLC boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,769 shares of the technology retailer’s stock after purchasing an additional 1,193 shares during the quarter. MML Investors Services LLC’s holdings in Best Buy were worth $1,526,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BBY. Thrivent Financial for Lutherans raised its stake in Best Buy by 4,337.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after purchasing an additional 1,074,718 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Best Buy by 55.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock valued at $241,347,000 after purchasing an additional 1,024,824 shares during the last quarter. AQR Capital Management LLC raised its stake in Best Buy by 55.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after purchasing an additional 491,781 shares during the last quarter. National Bank of Canada FI increased its holdings in Best Buy by 817.4% in the 3rd quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock valued at $55,564,000 after buying an additional 479,256 shares during the period. Finally, Ceredex Value Advisors LLC bought a new stake in Best Buy in the 2nd quarter valued at $31,603,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Down 0.1 %

Shares of NYSE:BBY opened at $87.50 on Wednesday. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The company’s 50-day moving average price is $91.14 and its two-hundred day moving average price is $90.61. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market cap of $18.71 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.19 and a beta of 1.44.

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

Best Buy Dividend Announcement

The firm also recently announced 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 4.30%. Best Buy’s payout ratio is presently 64.27%.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group lowered their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. The Goldman Sachs Group boosted their price target on shares of Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. BNP Paribas raised shares of Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. Wells Fargo & Company lowered their price target on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. Finally, Telsey Advisory Group lowered their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.06.

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.