2,149 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Holistic Financial Partners

Holistic Financial Partners acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 2,149 shares of the technology retailer’s stock, valued at approximately $222,000.

Other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. boosted its position in Best Buy by 190.9% during the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 210 shares during the period. Innealta Capital LLC bought a new stake in shares of Best Buy during the 2nd quarter worth about $35,000. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy during the 3rd quarter worth about $40,000. Whittier Trust Co. grew its stake in Best Buy by 53.3% in the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock valued at $41,000 after buying an additional 171 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Best Buy by 103.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer’s stock valued at $42,000 after acquiring an additional 259 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Performance

NYSE:BBY opened at $92.66 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 1-year low of $62.92 and a 1-year high of $103.71. The stock’s 50-day moving average is $95.70 and its 200-day moving average is $88.33. The stock has a market cap of $19.90 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 2.43 and a beta of 1.47.

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

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a $0.94 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 4.06%. Best Buy’s payout ratio is 64.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BBY shares. Wedbush upped their target price on Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Friday. DA Davidson reaffirmed a “buy” rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. Truist Financial boosted their price objective on shares of Best Buy from $86.00 to $107.00 and gave the company a “hold” rating in a report on Friday, August 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $114.00 price target (up from $100.00) on shares of Best Buy in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.35.

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.