Manning & Napier Advisors LLC reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,951 shares of the technology retailer’s stock after selling 1,352 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Best Buy Co. were worth $3,813,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Best Buy Co. by 0.3% during the 2nd quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock valued at $860,000 after buying an additional 48 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Best Buy Co. by 1.2% during the 2nd quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock valued at $265,000 after buying an additional 55 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Best Buy Co. by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after buying an additional 163 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Best Buy Co. by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock valued at $576,000 after buying an additional 170 shares during the last quarter. Finally, Financial Advisors Network Inc. boosted its stake in shares of Best Buy Co. by 2.3% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock valued at $433,000 after buying an additional 172 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Best Buy Co., Inc. (NYSE:BBY) traded up $0.90 during mid-day trading on Monday, hitting $56.73. The stock had a trading volume of 797,917 shares, compared to its average volume of 4,485,318. The company has a market capitalization of $16,700.00, a P/E ratio of 13.89, a P/E/G ratio of 1.16 and a beta of 1.42. Best Buy Co., Inc. has a 12 month low of $41.67 and a 12 month high of $63.32. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

Best Buy Co. (NYSE:BBY) last released its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. Best Buy Co. had a return on equity of 28.46% and a net margin of 3.09%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. analysts predict that Best Buy Co., Inc. will post 4.04 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.40%. Best Buy Co.’s payout ratio is currently 34.43%.

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In related news, CFO Corie S. Barry sold 3,134 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total value of $179,452.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hubert Joly sold 106,942 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $5,847,588.56. Following the completion of the sale, the chief executive officer now owns 645,222 shares of the company’s stock, valued at approximately $35,280,738.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,799 shares of company stock valued at $7,956,730. 0.84% of the stock is currently owned by corporate insiders.

BBY has been the subject of several research analyst reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a research note on Tuesday, August 29th. Barclays PLC restated a “buy” rating and set a $65.00 price objective on shares of Best Buy Co. in a research note on Monday, August 28th. Loop Capital set a $72.00 price objective on Best Buy Co. and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Deutsche Bank AG restated a “buy” rating and set a $58.00 price objective (down from $60.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Finally, Royal Bank Of Canada increased their target price on Best Buy Co. from $60.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $58.86.

About Best Buy Co.

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.

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

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