International Private Wealth Advisors LLC Has $330,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

International Private Wealth Advisors LLC trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,195 shares of the technology retailer’s stock after selling 219 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Best Buy were worth $330,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its stake in shares of Best Buy by 10.5% in the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after acquiring an additional 3,025 shares during the period. GAMMA Investing LLC lifted its stake in shares of Best Buy by 78.7% in the second quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock worth $172,000 after acquiring an additional 898 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Best Buy by 27.4% in the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after acquiring an additional 19,405 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Best Buy by 11.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock worth $6,302,000 after acquiring an additional 7,663 shares during the period. Finally, M&G Plc acquired a new position in shares of Best Buy in the first quarter worth approximately $8,608,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Performance

BBY stock traded up $0.68 during midday trading on Thursday, hitting $91.38. The company’s stock had a trading volume of 238,733 shares, compared to its average volume of 2,974,228. The stock’s 50-day moving average price is $95.97 and its 200 day moving average price is $87.97. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 1 year low of $62.92 and a 1 year high of $103.71. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 2.36 and a beta of 1.47.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share 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 quarter in the previous year, the firm earned $1.22 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current 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 given a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 4.11%. Best Buy’s dividend payout ratio is currently 64.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup cut their price objective on Best Buy from $115.00 to $109.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Truist Financial lifted their target price on Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a report on Friday, August 30th. StockNews.com upgraded Best Buy from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Evercore ISI lifted their target price on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a report on Friday, August 30th. Finally, Telsey Advisory Group boosted their price objective on Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.35.

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.