New York State Common Retirement Fund Purchases 2,500 Shares of Best Buy Co., Inc. (NYSE:BBY)

New York State Common Retirement Fund lifted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 2.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 127,727 shares of the technology retailer’s stock after purchasing an additional 2,500 shares during the period. New York State Common Retirement Fund’s holdings in Best Buy were worth $9,402,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BBY. Pinnacle Bancorp Inc. increased its holdings in Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock valued at $25,000 after buying an additional 178 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of Best Buy during the 4th quarter valued at $31,000. Atlas Capital Advisors Inc. increased its stake in shares of Best Buy by 186.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 243 shares in the last quarter. Ancora Advisors LLC increased its stake in shares of Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 374 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 173 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 0.2%

Shares of NYSE BBY opened at $67.51 on Friday. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 1.02. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.79 and a beta of 1.24. The business’s 50 day moving average price is $70.41 and its 200-day moving average price is $74.55.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend was Wednesday, June 18th. Best Buy’s dividend payout ratio is 92.91%.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 729,201 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares in the company, valued at approximately $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Loop Capital cut their price objective on Best Buy from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $90.00 price target on shares of Best Buy in a report on Friday, May 30th. Wedbush dropped their price target on shares of Best Buy from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. UBS Group reduced their price objective on shares of Best Buy from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Finally, Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.72.

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.