Larson Financial Group LLC Has $564,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Larson Financial Group LLC boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 54.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,463 shares of the technology retailer’s stock after acquiring an additional 1,918 shares during the period. Larson Financial Group LLC’s holdings in Best Buy were worth $564,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Richardson Financial Services Inc. grew its stake in shares of 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. Harbor Capital Advisors Inc. acquired a new position in shares of Best Buy during the 3rd quarter worth about $40,000. Innealta Capital LLC acquired a new position in shares of Best Buy during the 2nd quarter worth about $35,000. Whittier Trust Co. increased its stake in shares of 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 acquiring an additional 171 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Best Buy by 50.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer’s stock valued at $42,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BBY. UBS Group upped their target price on shares of Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, August 30th. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. The Goldman Sachs Group boosted their target price on Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Loop Capital raised their price target on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Evercore ISI lifted their price objective on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.71.

Best Buy Stock Up 3.9 %

BBY stock opened at $93.03 on Tuesday. Best Buy Co., Inc. has a twelve month low of $68.12 and a twelve month high of $103.71. The company has a market cap of $19.98 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 2.34 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. The business has a 50 day moving average price of $94.60 and a two-hundred day moving average price of $88.97.

Best Buy (NYSE:BBY) last posted its quarterly earnings results 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 analyst estimates of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 earnings per share. Analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed 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 was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 4.04%. Best Buy’s dividend payout ratio is 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.