Robeco Institutional Asset Management B.V. Sells 61,730 Shares of Best Buy Co., Inc. (NYSE:BBY)

Robeco Institutional Asset Management B.V. lowered its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 542,005 shares of the technology retailer's stock after selling 61,730 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.26% of Best Buy worth $39,897,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Best Buy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock valued at $1,971,908,000 after purchasing an additional 191,161 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Best Buy by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer's stock valued at $562,880,000 after purchasing an additional 395,415 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Best Buy in the 4th quarter valued at about $514,483,000. Geode Capital Management LLC raised its holdings in Best Buy by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer's stock valued at $436,210,000 after acquiring an additional 239,840 shares during the period. Finally, Invesco Ltd. raised its holdings in Best Buy by 20.5% in the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after acquiring an additional 629,180 shares during the period. Institutional investors own 80.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BBY. Morgan Stanley lowered their price objective on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. UBS Group lowered their price objective on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Loop Capital lowered their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, May 30th. BNP Paribas upgraded shares of Best Buy to a "hold" rating in a research report on Friday, May 30th. Finally, Wedbush decreased their target price on shares of Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $86.11.

Best Buy Trading Down 0.4%

Shares of BBY stock opened at $68.19 on Friday. The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.81 and a beta of 1.25. The stock has a 50-day moving average of $69.29 and a 200-day moving average of $76.26. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.06. The company had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.77 billion. Best Buy had a return on equity of 46.40% and a net margin of 2.13%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.57%. Best Buy's dividend payout ratio (DPR) is currently 92.91%.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the sale, the chairman now owns 196,100 shares of the company's stock, valued at approximately $14,305,495. This represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% 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.

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