Best Buy Co., Inc. (NYSE:BBY) Shares Bought by 1834 Investment Advisors Co.

1834 Investment Advisors Co. raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 43,804 shares of the technology retailer’s stock after acquiring an additional 1,186 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Best Buy were worth $4,525,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BBY. Greenwood Capital Associates LLC purchased a new stake in shares of Best Buy during the third quarter valued at approximately $817,000. QRG Capital Management Inc. grew its position in shares of Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after acquiring an additional 3,025 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after purchasing an additional 19,405 shares during the last quarter. National Pension Service increased its stake in Best Buy by 18.1% during the third quarter. National Pension Service now owns 397,504 shares of the technology retailer’s stock valued at $41,062,000 after purchasing an additional 60,880 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. lifted its position in shares of Best Buy by 12.3% in the 3rd quarter. Wetzel Investment Advisors Inc. now owns 3,370 shares of the technology retailer’s stock worth $351,000 after buying an additional 369 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BBY has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Barclays lifted their price objective on shares of Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. DA Davidson restated a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. Melius Research initiated coverage on Best Buy in a report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price objective for the company. Finally, StockNews.com upgraded Best Buy from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.71.

Best Buy Stock Performance

Shares of NYSE BBY opened at $92.84 on Wednesday. The stock’s fifty day simple moving average is $96.98 and its 200 day simple moving average is $87.43. The stock has a market capitalization of $19.94 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.38 and a beta of 1.47. 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 Co., Inc. has a 52-week low of $62.30 and a 52-week high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is currently 64.83%.

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.