New York State Teachers Retirement System Has $13.90 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

New York State Teachers Retirement System reduced its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 6.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 188,771 shares of the technology retailer's stock after selling 13,513 shares during the period. New York State Teachers Retirement System owned about 0.09% of Best Buy worth $13,895,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank grew its stake in Best Buy by 1.2% in the 1st quarter. Amalgamated Bank now owns 38,939 shares of the technology retailer's stock valued at $2,866,000 after buying an additional 447 shares during the last quarter. Skylands Capital LLC boosted its holdings in shares of Best Buy by 36.8% during the first quarter. Skylands Capital LLC now owns 12,650 shares of the technology retailer's stock worth $931,000 after acquiring an additional 3,400 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Best Buy by 1.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 558,176 shares of the technology retailer's stock valued at $41,087,000 after purchasing an additional 6,330 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Best Buy by 7.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer's stock valued at $14,560,000 after purchasing an additional 13,378 shares during the last quarter. Finally, Achmea Investment Management B.V. increased its stake in shares of Best Buy by 1.6% during the first quarter. Achmea Investment Management B.V. now owns 162,874 shares of the technology retailer's stock worth $11,989,000 after purchasing an additional 2,582 shares during the period. Institutional investors own 80.96% of the company's stock.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the completion of the sale, the chairman directly owned 196,100 shares in the company, valued at approximately $14,305,495. This trade represents a 78.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI decreased their price objective on Best Buy from $95.00 to $80.00 and set an "in-line" rating on the stock in a report on Wednesday, March 5th. Guggenheim restated a "buy" rating and issued a $90.00 price target on shares of Best Buy in a research note on Tuesday, June 10th. Bank of America lowered their price target on shares of Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. BNP Paribas raised shares of Best Buy to a "hold" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company decreased their target price on shares of Best Buy from $75.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Best Buy currently has an average rating of "Hold" and an average target price of $86.11.

Best Buy Price Performance

Best Buy stock opened at $71.61 on Thursday. The company has a market capitalization of $15.13 billion, a PE ratio of 17.51, a P/E/G ratio of 1.87 and a beta of 1.24. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $69.69 and a two-hundred day moving average price of $75.89. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.06. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. Analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Wednesday, June 18th. Best Buy's dividend payout ratio (DPR) is presently 92.91%.

Best Buy Company 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.

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