Caisse DE Depot ET Placement DU Quebec Has $8.36 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Caisse DE Depot ET Placement DU Quebec decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,928 shares of the technology retailer’s stock after selling 5,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Best Buy were worth $8,360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in 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 worth $3,279,000 after acquiring an additional 3,025 shares during the last quarter. GAMMA Investing LLC raised its holdings in Best Buy by 78.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock valued at $172,000 after buying an additional 898 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Best Buy by 27.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after buying an additional 19,405 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Best Buy by 11.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock worth $6,302,000 after acquiring an additional 7,663 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Best Buy by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after acquiring an additional 18,171 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $90.92 on Tuesday. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The company has a market cap of $19.52 billion, a PE ratio of 15.54, a P/E/G ratio of 2.39 and a beta of 1.47. The stock has a 50-day moving average of $93.67 and a 200-day moving average of $89.50. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.34.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.14%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BBY shares. Bank of America boosted their price objective on shares of Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research note on Friday, August 30th. Melius Research began coverage on Best Buy in a research report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price target on the stock. Citigroup lowered their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Evercore ISI upped their target price on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company decreased their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.06.

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.