JNBA Financial Advisors Has $1.65 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

JNBA Financial Advisors cut its holdings in Best Buy Co., Inc. (NYSE:BBY) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,000 shares of the technology retailer’s stock after selling 1,000 shares during the quarter. JNBA Financial Advisors’ holdings in Best Buy were worth $1,653,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBY. GAMMA Investing LLC boosted its holdings in shares of Best Buy by 78.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock valued at $172,000 after acquiring an additional 898 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings 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 purchasing an additional 7,663 shares during the last quarter. M&G Plc acquired a new position in shares of Best Buy in the first quarter valued at approximately $8,608,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Best Buy by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after buying an additional 18,171 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Best Buy by 10.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 99,769 shares of the technology retailer’s stock worth $8,410,000 after acquiring an additional 9,785 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

BBY stock traded down $5.38 on Wednesday, hitting $87.46. The company had a trading volume of 1,641,969 shares, compared to its average volume of 2,980,672. The stock’s 50-day simple moving average is $96.98 and its 200 day simple moving average is $87.43. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 2.38 and a beta of 1.47. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s dividend payout ratio is presently 64.83%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Melius Research began coverage on shares of Best Buy in a research note on Monday, September 23rd. They issued a “hold” rating and a $100.00 price objective on the stock. The Goldman Sachs Group lifted 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. Wedbush increased their price target on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Loop Capital raised their price objective on shares of Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, UBS Group raised their price objective on Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.71.

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.