Crossmark Global Holdings Inc. Acquires 22,507 Shares of Best Buy Co., Inc. (NYSE:BBY)

Crossmark Global Holdings Inc. grew its position in Best Buy Co., Inc. (NYSE:BBY) by 202.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,647 shares of the technology retailer’s stock after purchasing an additional 22,507 shares during the period. Crossmark Global Holdings Inc.’s holdings in Best Buy were worth $3,476,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in shares of Best Buy by 10.5% in the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after purchasing an additional 3,025 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Best Buy by 78.7% in the second quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock valued at $172,000 after purchasing an additional 898 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Best Buy by 27.4% in the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after purchasing an additional 19,405 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Best Buy by 11.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock valued at $6,302,000 after acquiring an additional 7,663 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Best Buy in the first quarter valued at about $8,608,000. 80.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBY. Evercore ISI lifted their target price on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research report on Friday, August 30th. UBS Group boosted their price target on Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. BNP Paribas raised Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. Barclays upped their target price on Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.35.

Best Buy Stock Up 0.1 %

NYSE BBY opened at $89.30 on Tuesday. The business has a fifty day moving average price of $96.59 and a two-hundred day moving average price of $87.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. Best Buy Co., Inc. has a fifty-two week low of $62.92 and a fifty-two week high of $103.71. The stock has a market capitalization of $19.18 billion, a PE ratio of 15.39, a PEG ratio of 2.33 and a beta of 1.47.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the prior year, the company earned $1.22 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts expect that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s payout ratio is 64.83%.

Best Buy Profile

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.