Best Buy Co Inc (NYSE:BBY) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat reports.

Other hedge funds have made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in shares of Best Buy Co during the fourth quarter valued at $636,000. Nationwide Fund Advisors increased its stake in shares of Best Buy Co by 12.6% in the fourth quarter. Nationwide Fund Advisors now owns 398,560 shares of the technology retailer’s stock valued at $12,136,000 after buying an additional 44,685 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Best Buy Co by 67.7% in the fourth quarter. Neuberger Berman Group LLC now owns 2,717,560 shares of the technology retailer’s stock valued at $82,750,000 after buying an additional 1,096,985 shares in the last quarter. Strs Ohio increased its stake in shares of Best Buy Co by 1.2% in the fourth quarter. Strs Ohio now owns 244,313 shares of the technology retailer’s stock valued at $7,439,000 after buying an additional 2,875 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Best Buy Co by 1.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 379,537 shares of the technology retailer’s stock valued at $11,557,000 after buying an additional 5,200 shares in the last quarter.

Best Buy Co (NYSE:BBY) traded up 4.08% during midday trading on Wednesday, reaching $28.07. The company’s stock had a trading volume of 1,657,136 shares. The firm’s 50-day moving average price is $29.14 and its 200-day moving average price is $32.98. The stock has a market capitalization of $9.62 billion and a PE ratio of 10.57. Best Buy Co has a 52 week low of $25.31 and a 52 week high of $42.00.

Best Buy Co (NYSE:BBY) last released its earnings results on Thursday, November 19th. The technology retailer reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. The business had revenue of $8.82 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts anticipate that Best Buy Co will post $2.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Thursday, December 10th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, December 8th. This represents a $0.92 annualized dividend and a yield of 3.41%.

BBY has been the topic of a number of other research reports. Vetr upgraded Best Buy Co from a “hold” rating to a “buy” rating and set a $38.98 price target on the stock in a report on Tuesday, October 6th. Bank of America restated a “buy” rating on shares of Best Buy Co in a report on Friday, October 2nd. Zacks Investment Research cut Best Buy Co from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Wedbush restated a “buy” rating and issued a $37.00 price target on shares of Best Buy Co in a report on Monday, November 16th. Finally, RBC Capital cut Best Buy Co from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $42.00 to $36.00 in a report on Monday, November 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. Best Buy Co currently has a consensus rating of “Hold” and a consensus price target of $37.35.

Best Buy Co., Inc. is a provider of technology products, services and solutions. The Company offers service to the consumers, small business owners and educators, who visit its stores, engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States, Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories, operating e-commerce, retail store and call center operations under a range of brand names, including, Best Buy (NYSE:BBY), Best Buy Mobile, Geek Squad, Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition, the Company operates Magnolia Home Theater, Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.

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