Public Employees Retirement Association of Colorado decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 7.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,596 shares of the technology retailer’s stock after selling 4,212 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Best Buy Co. were worth $2,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBY. Thrivent Financial For Lutherans lifted its stake in shares of Best Buy Co. by 4.1% during the 1st quarter. Thrivent Financial For Lutherans now owns 9,885 shares of the technology retailer’s stock valued at $486,000 after buying an additional 390 shares in the last quarter. DnB Asset Management AS lifted its stake in shares of Best Buy Co. by 7.2% during the 2nd quarter. DnB Asset Management AS now owns 29,888 shares of the technology retailer’s stock valued at $1,713,000 after buying an additional 2,000 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Best Buy Co. during the 2nd quarter valued at $688,000. Hays Advisory LLC purchased a new position in shares of Best Buy Co. during the 2nd quarter valued at $4,451,000. Finally, National Pension Service lifted its stake in shares of Best Buy Co. by 10.2% during the 2nd quarter. National Pension Service now owns 303,198 shares of the technology retailer’s stock valued at $17,361,000 after buying an additional 28,161 shares in the last quarter. Institutional investors own 88.28% of the company’s stock.

In related news, insider Kathleen Scarlett sold 10,797 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total transaction of $566,734.53. Following the transaction, the insider now directly owns 25,690 shares in the company, valued at approximately $1,348,468.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total transaction of $47,157.04. Following the transaction, the chief financial officer now owns 54,159 shares in the company, valued at $3,245,207.28. The disclosure for this sale can be found here. Insiders have sold a total of 166,259 shares of company stock worth $9,182,693 over the last quarter. 0.84% of the stock is currently owned by insiders.

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Best Buy Co., Inc. (NYSE BBY) opened at $55.13 on Wednesday. The company has a market cap of $16,871.02, a PE ratio of 14.61, a P/E/G ratio of 1.12 and a beta of 1.42. Best Buy Co., Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $63.32. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30.

Best Buy Co. (NYSE:BBY) last issued its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.63 by $0.06. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. equities analysts predict that Best Buy Co., Inc. will post 4.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $1.36 annualized dividend and a yield of 2.47%. Best Buy Co.’s payout ratio is 35.88%.

A number of research analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Best Buy Co. in a research note on Tuesday, August 29th. BidaskClub upgraded shares of Best Buy Co. from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Barclays PLC restated a “buy” rating and set a $65.00 target price on shares of Best Buy Co. in a research note on Monday, August 28th. Piper Jaffray Companies restated a “buy” rating and set a $70.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 23rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $60.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Best Buy Co. presently has a consensus rating of “Buy” and an average price target of $58.97.

Best Buy Co. Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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

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