Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.6% in the third quarter, HoldingsChannel reports. The firm owned 6,758 shares of the technology retailer’s stock after buying an additional 237 shares during the period. Foundations Investment Advisors LLC’s holdings in Best Buy were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BBY. Waterway Wealth Management LLC raised its position in shares of Best Buy by 4.7% in the third quarter. Waterway Wealth Management LLC now owns 6,116 shares of the technology retailer’s stock worth $632,000 after acquiring an additional 276 shares during the period. Berry Wealth Group LP raised its position in shares of Best Buy by 1.3% in the third quarter. Berry Wealth Group LP now owns 20,522 shares of the technology retailer’s stock worth $2,120,000 after acquiring an additional 272 shares during the period. Everence Capital Management Inc. raised its position in shares of Best Buy by 119.0% in the third quarter. Everence Capital Management Inc. now owns 9,790 shares of the technology retailer’s stock worth $1,011,000 after acquiring an additional 5,320 shares during the period. Buckley Wealth Management LLC acquired a new position in shares of Best Buy in the third quarter worth about $1,445,000. Finally, Resonant Capital Advisors LLC acquired a new position in shares of Best Buy in the third quarter worth about $204,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Performance

Best Buy stock opened at $94.12 on Friday. The firm has a 50 day simple moving average of $96.02 and a 200-day simple moving average of $86.51. Best Buy Co., Inc. has a 1-year low of $62.30 and a 1-year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts expect that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 3.99%. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Analyst Ratings Changes

A number of brokerages have weighed in on BBY. Loop Capital upped their price objective on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays upped their price objective on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Telsey Advisory Group boosted their target price on shares of Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Truist Financial boosted their target price on shares of Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Finally, StockNews.com raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.71.

About Best Buy

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.