2,111 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Lifeworks Advisors LLC

Lifeworks Advisors LLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, Holdings Channel reports. The firm bought 2,111 shares of the technology retailer’s stock, valued at approximately $218,000.

A number of other hedge funds have also recently modified their holdings of the business. Richardson Financial Services Inc. grew its stake in Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after acquiring an additional 210 shares in the last quarter. Innealta Capital LLC purchased a new position in Best Buy in the second quarter valued at about $35,000. Harbor Capital Advisors Inc. bought a new position in shares of Best Buy during the 3rd quarter worth approximately $40,000. Whittier Trust Co. increased its position in shares of Best Buy by 53.3% during the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock worth $41,000 after purchasing an additional 171 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Best Buy by 103.6% in the first quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer’s stock valued at $42,000 after buying an additional 259 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Up 1.2 %

Shares of Best Buy stock opened at $92.66 on Friday. Best Buy Co., Inc. has a fifty-two week low of $62.92 and a fifty-two week high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The company has a market cap of $19.90 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 2.37 and a beta of 1.47. The firm has a 50-day simple moving average of $95.81 and a two-hundred day simple moving average of $88.00.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (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 the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. Best Buy’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BBY. Melius Research began coverage on shares of Best Buy in a report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price target for the company. Wells Fargo & Company raised their target price on Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Evercore ISI increased 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. Truist Financial raised their price objective on Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Finally, Citigroup cut their price target on shares of Best Buy from $115.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, November 8th. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Best Buy has a consensus rating of “Moderate Buy” and an average target price of $103.35.

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.