B.O.S.S. Retirement Advisors LLC Increases Stock Position in Best Buy Co., Inc. (NYSE:BBY)

B.O.S.S. Retirement Advisors LLC grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,623 shares of the technology retailer’s stock after acquiring an additional 269 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Best Buy were worth $1,511,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC lifted its stake in Best Buy by 1.3% in the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock worth $855,000 after acquiring an additional 103 shares during the period. SeaCrest Wealth Management LLC grew its holdings in shares of Best Buy by 4.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock worth $276,000 after acquiring an additional 118 shares during the period. Tobam raised its holdings in Best Buy by 15.6% in the second quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after purchasing an additional 121 shares in the last quarter. Hoxton Planning & Management LLC increased its stake in shares of Best Buy by 3.7% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock worth $360,000 after acquiring an additional 124 shares in the last quarter. Finally, LVW Advisors LLC raised its stake in Best Buy by 2.3% during the second quarter. LVW Advisors LLC now owns 5,716 shares of the technology retailer’s stock valued at $482,000 after buying an additional 130 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the sale, the chairman now directly owns 14,002,853 shares in the company, valued at $1,236,311,891.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Best Buy news, Chairman Richard M. Schulze sold 600,000 shares of Best Buy stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the completion of the transaction, the chairman now directly owns 14,002,853 shares of the company’s stock, valued at $1,236,311,891.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 88,542 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total value of $7,813,831.50. Following the sale, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at $1,200,451,777.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBY. Loop Capital raised their price objective on shares of Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 30th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Telsey Advisory Group raised their target price on shares of Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Wells Fargo & Company boosted their target price on shares of Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $114.00 price objective (up previously from $100.00) on shares of Best Buy in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.71.

Best Buy Stock Up 1.1 %

BBY opened at $98.68 on Thursday. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $21.29 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $103.71. The firm has a 50-day simple moving average of $94.84 and a two-hundred day simple moving average of $86.00.

Best Buy (NYSE:BBY) last issued 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. 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 for the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the prior year, the firm earned $1.22 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts forecast that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s dividend payout ratio is 65.85%.

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.