Best Buy Co., Inc. (NYSE:BBY) Shares Bought by 1834 Investment Advisors Co.

1834 Investment Advisors Co. boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,804 shares of the technology retailer’s stock after buying an additional 1,186 shares during the period. 1834 Investment Advisors Co.’s holdings in Best Buy were worth $4,525,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Best Buy by 78.7% during the second quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock worth $172,000 after purchasing an additional 898 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Best Buy by 11.4% during 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. M&G Plc acquired a new stake in shares of Best Buy in the first quarter valued at $8,608,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Best Buy by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after purchasing an additional 18,171 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Best Buy by 10.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 99,769 shares of the technology retailer’s stock valued at $8,410,000 after buying an additional 9,785 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. DA Davidson reaffirmed a “buy” rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. Telsey Advisory Group lifted their target price on shares of Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 30th. StockNews.com upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Truist Financial lifted their price objective on shares of Best Buy from $86.00 to $107.00 and gave the company a “hold” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.

Best Buy Trading Up 0.0 %

Shares of BBY opened at $92.84 on Wednesday. Best Buy Co., Inc. has a 1-year low of $62.30 and a 1-year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The firm has a 50 day simple moving average of $96.98 and a 200-day simple moving average of $87.43. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47.

Best Buy (NYSE:BBY) last released 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 company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS. Equities analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is 64.83%.

Best Buy 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.