Dimensional Fund Advisors LP Has $178.06 Million Position in Best Buy Co Inc (BBY)

Dimensional Fund Advisors LP cut its holdings in Best Buy Co Inc (NYSE:BBY) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,243,855 shares of the technology retailer’s stock after selling 248,545 shares during the quarter. Dimensional Fund Advisors LP owned 0.82% of Best Buy worth $178,059,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BBY. Meiji Yasuda Life Insurance Co raised its holdings in Best Buy by 64.3% during the third quarter. Meiji Yasuda Life Insurance Co now owns 7,920 shares of the technology retailer’s stock worth $629,000 after purchasing an additional 3,100 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Best Buy in the third quarter worth $1,182,000. Korea Investment CORP raised its holdings in shares of Best Buy by 30.0% in the third quarter. Korea Investment CORP now owns 319,169 shares of the technology retailer’s stock worth $25,329,000 after acquiring an additional 73,624 shares during the last quarter. Westpac Banking Corp raised its holdings in shares of Best Buy by 41.8% in the third quarter. Westpac Banking Corp now owns 48,890 shares of the technology retailer’s stock worth $3,880,000 after acquiring an additional 14,411 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Best Buy by 18.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 150,313 shares of the technology retailer’s stock worth $11,917,000 after acquiring an additional 23,367 shares during the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research cut Best Buy from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Jefferies Financial Group assumed coverage on Best Buy in a report on Tuesday, August 21st. They issued a “hold” rating and a $79.00 price target for the company. Wedbush set a $65.00 price target on Best Buy and gave the stock a “sell” rating in a report on Thursday, August 23rd. JPMorgan Chase & Co. boosted their price target on Best Buy from $76.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, August 29th. Finally, Telsey Advisory Group boosted their price target on Best Buy from $76.00 to $80.00 and gave the stock a “market perform” rating in a report on Wednesday, August 29th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $77.06.

In related news, General Counsel Keith J. Nelsen sold 33,473 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $80.38, for a total value of $2,690,559.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Corie S. Barry sold 6,783 shares of the company’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $72.80, for a total value of $493,802.40. Following the completion of the transaction, the chief financial officer now owns 80,961 shares of the company’s stock, valued at $5,893,960.80. The disclosure for this sale can be found here. Insiders sold 71,711 shares of company stock valued at $5,693,126 over the last quarter. Insiders own 0.75% of the company’s stock.

Best Buy stock opened at $64.59 on Friday. The firm has a market capitalization of $17.39 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. Best Buy Co Inc has a 52 week low of $57.51 and a 52 week high of $84.37. The company has a quick ratio of 0.28, a current ratio of 1.10 and a debt-to-equity ratio of 0.42.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 20th. The technology retailer reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.56 billion. Best Buy had a return on equity of 44.41% and a net margin of 2.52%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. Research analysts predict that Best Buy Co Inc will post 5.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Tuesday, December 11th will be paid a $0.45 dividend. The ex-dividend date is Monday, December 10th. This represents a $1.80 annualized dividend and a yield of 2.79%. Best Buy’s payout ratio is currently 40.72%.

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Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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