California State Teachers Retirement System trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 474,655 shares of the technology retailer’s stock after selling 27,579 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Best Buy worth $27,036,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Spectrum Management Group Inc. increased its holdings in shares of Best Buy by 25.7% during the second quarter. Spectrum Management Group Inc. now owns 21,515 shares of the technology retailer’s stock valued at $1,233,000 after acquiring an additional 4,405 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Best Buy by 18.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 83,623 shares of the technology retailer’s stock valued at $4,794,000 after acquiring an additional 13,150 shares in the last quarter. Viking Fund Management LLC increased its holdings in shares of Best Buy by 66.7% during the third quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock valued at $570,000 after acquiring an additional 4,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Best Buy by 23.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,179 shares of the technology retailer’s stock valued at $10,330,000 after acquiring an additional 34,345 shares in the last quarter. Finally, Denali Advisors LLC acquired a new position in Best Buy in the 3rd quarter worth approximately $740,000. 88.89% of the stock is owned by institutional investors and hedge funds.

In other news, major shareholder Richard M. Schulze sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.19, for a total transaction of $4,889,250.00. Following the sale, the insider now owns 1,732,500 shares of the company’s stock, valued at approximately $112,941,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Corie S. Barry sold 3,134 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total transaction of $179,452.84. The disclosure for this sale can be found here. Insiders have sold a total of 2,898,184 shares of company stock worth $175,101,812 in the last ninety days. Corporate insiders own 1.21% of the company’s stock.

Several brokerages recently weighed in on BBY. Moffett Nathanson began coverage on shares of Best Buy in a report on Monday, December 4th. They issued a “sell” rating on the stock. Wedbush set a $32.00 price target on shares of Best Buy and gave the stock a “sell” rating in a report on Wednesday, November 29th. Deutsche Bank set a $56.00 price target on shares of Best Buy and gave the stock a “hold” rating in a report on Friday, November 17th. Loop Capital set a $72.00 price target on shares of Best Buy and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, Oppenheimer reiterated a “hold” rating on shares of Best Buy in a report on Thursday, November 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.81.

Shares of Best Buy Co., Inc. (NYSE:BBY) opened at $65.32 on Monday. The company has a market cap of $19,094.80, a P/E ratio of 16.25, a PEG ratio of 1.38 and a beta of 1.40. Best Buy Co., Inc. has a one year low of $41.67 and a one year high of $65.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. research analysts forecast that Best Buy Co., Inc. will post 4.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.08%. Best Buy’s payout ratio is 34.34%.

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About Best Buy

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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

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