Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by Signaturefd LLC

Signaturefd LLC grew its position in Best Buy Co., Inc. (NYSE:BBY) by 14.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,411 shares of the technology retailer’s stock after acquiring an additional 303 shares during the quarter. Signaturefd LLC’s holdings in Best Buy were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of BBY. Park Avenue Securities LLC boosted its holdings in shares of Best Buy by 7.3% in the first quarter. Park Avenue Securities LLC now owns 6,927 shares of the technology retailer’s stock valued at $568,000 after acquiring an additional 469 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Best Buy by 5.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,984 shares of the technology retailer’s stock worth $7,381,000 after purchasing an additional 4,420 shares during the period. LVW Advisors LLC lifted its holdings in shares of Best Buy by 81.1% during the first quarter. LVW Advisors LLC now owns 5,586 shares of the technology retailer’s stock worth $458,000 after purchasing an additional 2,501 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Best Buy by 44.6% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 65,867 shares of the technology retailer’s stock worth $5,403,000 after purchasing an additional 20,305 shares during the period. Finally, MV Capital Management Inc. lifted its holdings in shares of Best Buy by 14.5% during the first quarter. MV Capital Management Inc. now owns 1,966 shares of the technology retailer’s stock worth $161,000 after purchasing an additional 249 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BBY. DA Davidson reaffirmed a “buy” rating and set a $117.00 price target on shares of Best Buy in a report on Tuesday, October 15th. Truist Financial increased their price target on Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Wedbush increased their price target on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Evercore ISI increased their price objective on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research report on Friday, August 30th. Finally, The Goldman Sachs Group increased their price objective on Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and an average price target of $103.71.

Best Buy Trading Down 1.5 %

Shares of BBY stock opened at $92.68 on Friday. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71. The stock has a market cap of $19.99 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.58 and a beta of 1.46. The business has a fifty day simple moving average of $96.37 and a 200-day simple moving average of $86.65. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37.

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

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio is presently 65.85%.

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.