Swiss National Bank decreased its holdings in shares of Best Buy Co Inc (NYSE:BBY) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 809,860 shares of the technology retailer’s stock after selling 61,700 shares during the quarter. Swiss National Bank owned 0.29% of Best Buy worth $64,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Best Buy by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 970,027 shares of the technology retailer’s stock worth $67,891,000 after purchasing an additional 53,983 shares during the last quarter. Amalgamated Bank increased its position in shares of Best Buy by 5.4% during the 2nd quarter. Amalgamated Bank now owns 32,983 shares of the technology retailer’s stock worth $2,460,000 after purchasing an additional 1,701 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Best Buy during the 2nd quarter worth about $2,423,000. Sumitomo Life Insurance Co. increased its position in shares of Best Buy by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 24,621 shares of the technology retailer’s stock worth $1,836,000 after purchasing an additional 1,056 shares during the last quarter. Finally, Unigestion Holding SA acquired a new stake in shares of Best Buy during the 2nd quarter worth about $9,581,000. Institutional investors and hedge funds own 84.91% of the company’s stock.

BBY stock opened at $63.53 on Wednesday. The company has a market cap of $17.08 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.01. Best Buy Co Inc has a fifty-two week low of $55.81 and a fifty-two week high of $84.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.21 and a quick ratio of 0.52.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.56 billion. Best Buy had a return on equity of 40.28% and a net margin of 2.44%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Best Buy Co Inc will post 5.11 earnings per share for the current fiscal year.

In related news, CFO Corie S. Barry sold 6,783 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The stock was sold at an average price of $72.80, for a total transaction of $493,802.40. Following the completion of the sale, the chief financial officer now owns 80,961 shares in the company, valued at $5,893,960.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Corie S. Barry sold 2,982 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $78.35, for a total value of $233,639.70. Following the sale, the chief financial officer now owns 72,838 shares of the company’s stock, valued at approximately $5,706,857.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,711 shares of company stock valued at $6,081,426. 0.75% of the stock is owned by company insiders.

Several equities analysts have weighed in on the company. Barclays reaffirmed a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research report on Wednesday, August 29th. Zacks Investment Research downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. Credit Suisse Group lifted their target price on Best Buy from $74.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, August 29th. Bank of America reaffirmed a “buy” rating and issued a $92.00 target price on shares of Best Buy in a research report on Tuesday, August 28th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $78.00 target price on shares of Best Buy in a research report on Tuesday, August 28th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $79.25.

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About Best Buy

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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