New York State Teachers Retirement System Decreases Stock Position in Best Buy Co., Inc. (NYSE:BBY)

New York State Teachers Retirement System lessened its position in Best Buy Co., Inc. (NYSE:BBY) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,797 shares of the technology retailer’s stock after selling 1,077 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Best Buy worth $18,986,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BBY. Palisade Asset Management LLC purchased a new position in shares of Best Buy during the first quarter valued at approximately $27,000. Richardson Financial Services Inc. boosted its holdings in Best Buy by 190.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after acquiring an additional 210 shares during the period. PrairieView Partners LLC grew its position in Best Buy by 67.1% in the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after acquiring an additional 151 shares during the last quarter. Innealta Capital LLC purchased a new stake in Best Buy in the second quarter worth $35,000. Finally, Whittier Trust Co. lifted its position in shares of Best Buy by 53.3% during the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock worth $41,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.5 %

NYSE:BBY opened at $90.92 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The stock has a market capitalization of $19.52 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.37 and a beta of 1.46. The company’s 50-day simple moving average is $96.82 and its 200-day simple moving average is $87.04. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 earnings per share. On average, equities analysts anticipate that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.14%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio is presently 64.83%.

Wall Street Analyst Weigh In

BBY has been the topic of a number of research analyst reports. Loop Capital upped their price target on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays raised their target price 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. UBS Group boosted their price target on Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a report on Friday, August 30th. Citigroup raised their price objective on Best Buy from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, StockNews.com upgraded Best Buy from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.