Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Greystone Financial Group LLC

Greystone Financial Group LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 48.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 71,277 shares of the technology retailer’s stock after acquiring an additional 23,306 shares during the period. Greystone Financial Group LLC’s holdings in Best Buy were worth $7,363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its holdings in shares of Best Buy by 7.3% in the 1st quarter. Park Avenue Securities LLC now owns 6,927 shares of the technology retailer’s stock valued at $568,000 after buying an additional 469 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Best Buy by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,984 shares of the technology retailer’s stock valued at $7,381,000 after buying an additional 4,420 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Best Buy by 23.4% in the 1st quarter. Hennessy Advisors Inc. now owns 36,900 shares of the technology retailer’s stock valued at $3,027,000 after buying an additional 7,000 shares in the last quarter. AMF Tjanstepension AB acquired a new position in shares of Best Buy in the 1st quarter valued at $8,676,000. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Best Buy by 25.4% in the 1st quarter. Kathmere Capital Management LLC now owns 7,037 shares of the technology retailer’s stock valued at $577,000 after buying an additional 1,426 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $93.35 on Thursday. The company has a 50-day simple moving average of $96.02 and a 200-day simple moving average of $86.51. 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 $20.14 billion, a PE ratio of 16.35, a P/E/G 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.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. Equities research 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.03%. Best Buy’s dividend payout ratio is presently 65.85%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BBY. Wells Fargo & Company upped their target price on shares of Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. DA Davidson reiterated a “buy” rating and issued a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. Loop Capital upped their price target on shares of Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. upped their price target on shares of Best Buy from $101.00 to $111.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Evercore ISI upped their price target on shares of Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.71.

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.