Capital Performance Advisors LLP Purchases New Position in Best Buy Co., Inc. (NYSE:BBY)

Capital Performance Advisors LLP acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,730 shares of the technology retailer’s stock, valued at approximately $179,000.

Several other institutional investors have also modified their holdings of the stock. Physicians Financial Services Inc. purchased a new stake in Best Buy in the third quarter valued at $207,000. Comprehensive Financial Consultants Institutional Inc. lifted its holdings in shares of Best Buy by 1.2% in the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 45,446 shares of the technology retailer’s stock valued at $4,695,000 after purchasing an additional 547 shares during the last quarter. Consolidated Planning Corp purchased a new stake in shares of Best Buy in the 3rd quarter valued at about $427,000. Principal Financial Group Inc. boosted its position in shares of Best Buy by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 247,510 shares of the technology retailer’s stock valued at $25,568,000 after purchasing an additional 4,958 shares during the period. Finally, Jackson Square Capital LLC purchased a new position in Best Buy during the 3rd quarter worth approximately $1,248,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

BBY has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Loop Capital raised their target price on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Evercore ISI boosted their price target on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research note on Friday, August 30th. Melius Research started coverage on shares of Best Buy in a research report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price objective for the company. Finally, Telsey Advisory Group boosted their target price on Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.71.

Best Buy Stock Down 0.0 %

Shares of BBY stock traded down $0.03 during mid-day trading on Friday, reaching $90.08. 215,436 shares of the company were exchanged, compared to its average volume of 2,980,713. The company has a market capitalization of $19.34 billion, a P/E ratio of 15.54, a P/E/G ratio of 2.43 and a beta of 1.47. The business’s 50 day simple moving average is $97.01 and its 200 day simple moving average is $87.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last released 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. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. Research analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 4.17%. Best Buy’s payout ratio is currently 64.83%.

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.