O Shaughnessy Asset Management LLC Acquires 23,182 Shares of Best Buy Co., Inc. (NYSE:BBY)

O Shaughnessy Asset Management LLC grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 157,645 shares of the technology retailer’s stock after purchasing an additional 23,182 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Best Buy were worth $16,667,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Amundi acquired a new position in shares of Best Buy in the 2nd quarter valued at about $272,224,000. HS Management Partners LLC bought a new position in shares of Best Buy in the second quarter valued at approximately $190,808,000. First Trust Advisors LP grew its holdings in Best Buy by 49.2% during the second quarter. First Trust Advisors LP now owns 1,192,185 shares of the technology retailer’s stock valued at $137,077,000 after purchasing an additional 393,159 shares during the period. Renaissance Technologies LLC grew its holdings in Best Buy by 122.2% during the second quarter. Renaissance Technologies LLC now owns 668,300 shares of the technology retailer’s stock valued at $76,841,000 after purchasing an additional 367,500 shares during the period. Finally, M&G Investment Management Ltd. purchased a new stake in shares of Best Buy during the second quarter worth $38,212,000. Institutional investors and hedge funds own 78.82% of the company’s stock.

A number of equities research analysts recently issued reports on BBY shares. Truist initiated coverage on Best Buy in a research report on Thursday. They issued a “hold” rating and a $108.00 price objective on the stock. Citigroup reduced their price objective on Best Buy from $118.00 to $106.00 and set a “sell” rating on the stock in a research note on Wednesday, November 24th. Zacks Investment Research cut Best Buy from a “buy” rating to a “hold” rating and set a $122.00 price objective on the stock. in a research note on Monday, November 29th. Bank of America raised Best Buy to a “buy” rating and raised their price objective for the company from $157.00 to $175.00 in a research note on Wednesday, November 24th. Finally, Truist Securities began coverage on Best Buy in a research note on Thursday. They issued a “hold” rating and a $108.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $127.18.

In other news, insider Damien Harmon sold 365 shares of the business’s stock in a transaction on Monday, January 10th. The shares were sold at an average price of $101.72, for a total transaction of $37,127.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.36% of the company’s stock.

NYSE:BBY opened at $100.98 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.42 and a debt-to-equity ratio of 0.29. Best Buy Co., Inc. has a 12 month low of $94.54 and a 12 month high of $141.97. The company has a market cap of $24.29 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 1.12 and a beta of 1.54. The company has a 50 day simple moving average of $110.97 and a two-hundred day simple moving average of $112.44.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 23rd. The technology retailer reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Best Buy had a net margin of 5.05% and a return on equity of 63.58%. The business had revenue of $11.91 billion during the quarter, compared to the consensus estimate of $11.62 billion. During the same quarter in the previous year, the firm posted $2.06 EPS. The firm’s revenue was up .5% on a year-over-year basis. Research analysts forecast that Best Buy Co., Inc. will post 10.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 4th. Stockholders of record on Tuesday, December 14th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Monday, December 13th. Best Buy’s payout ratio is 27.13%.

Best Buy Profile

Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment comprises of the operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.

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

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