Oregon Public Employees Retirement Fund Acquires 200 Shares of Best Buy Co., Inc. (NYSE:BBY)

Oregon Public Employees Retirement Fund raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,560 shares of the technology retailer’s stock after buying an additional 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Best Buy were worth $1,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of Best Buy by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 382,160 shares of the technology retailer’s stock valued at $32,212,000 after acquiring an additional 1,178 shares in the last quarter. AM Squared Ltd bought a new position in shares of Best Buy in the second quarter valued at approximately $135,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Best Buy by 20.2% in the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 79,189 shares of the technology retailer’s stock worth $6,675,000 after buying an additional 13,322 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Best Buy by 6.3% during the 2nd quarter. Ritholtz Wealth Management now owns 15,722 shares of the technology retailer’s stock worth $1,325,000 after buying an additional 935 shares during the period. Finally, Berry Wealth Group LP grew its stake in Best Buy by 9.6% in the 2nd quarter. Berry Wealth Group LP now owns 20,250 shares of the technology retailer’s stock valued at $1,707,000 after buying an additional 1,782 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BBY. Bank of America boosted their target price on shares of Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Barclays boosted their price objective on Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. The Goldman Sachs Group raised their target price on Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Loop Capital upped their price target on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Evercore ISI raised their price objective on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.56.

Best Buy Stock Performance

NYSE:BBY opened at $98.50 on Friday. The firm has a market capitalization of $21.25 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.20 and a beta of 1.46. The company has a quick ratio of 0.33, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $103.71. The firm has a 50-day moving average price of $87.35 and a 200 day moving average price of $82.05.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. Best Buy’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.27 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is currently 65.85%.

Insider Activity at Best Buy

In other Best Buy news, EVP Jason J. Bonfig sold 3,500 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $83.02, for a total transaction of $290,570.00. Following the sale, the executive vice president now directly owns 50,714 shares of the company’s stock, valued at $4,210,276.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Best Buy news, Chairman Richard M. Schulze sold 691,328 shares of Best Buy stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the completion of the transaction, the chairman now owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jason J. Bonfig sold 3,500 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the sale, the executive vice president now owns 50,714 shares in the company, valued at approximately $4,210,276.28. The disclosure for this sale can be found here. Insiders sold 1,383,370 shares of company stock valued at $122,233,276 in the last ninety days. Insiders own 0.59% of the company’s stock.

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.