Community Bank & Trust Waco Texas Has $3.15 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Community Bank & Trust Waco Texas decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,467 shares of the technology retailer’s stock after selling 218 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Best Buy were worth $3,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BBY. Richardson Financial Services Inc. boosted its stake in shares of Best Buy by 190.9% during the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after purchasing an additional 210 shares in the last quarter. Innealta Capital LLC acquired a new position in Best Buy in the 2nd quarter valued at approximately $35,000. Harbor Capital Advisors Inc. bought a new position in shares of Best Buy during the third quarter valued at $40,000. Whittier Trust Co. lifted its holdings 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 during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Best Buy by 103.6% in the first quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer’s stock worth $42,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Up 1.0 %

Shares of BBY opened at $90.20 on Wednesday. Best Buy Co., Inc. has a 1-year low of $62.92 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 company has a market capitalization of $19.37 billion, a P/E ratio of 15.55, a P/E/G ratio of 2.34 and a beta of 1.47. The firm’s 50 day simple moving average is $96.37 and its 200 day simple moving average is $87.84.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same quarter last year, the firm earned $1.22 EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a dividend of $0.94 per share. The ex-dividend date was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 4.17%. Best Buy’s dividend payout ratio is currently 64.83%.

Wall Street Analyst Weigh In

Several brokerages have commented on BBY. StockNews.com raised Best Buy from a “hold” rating to a “buy” rating in a report on Friday, November 1st. BNP Paribas raised shares of Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. Piper Sandler restated an “overweight” rating and issued a $114.00 price target (up previously from $100.00) on shares of Best Buy in a research report on Friday, August 30th. Loop Capital increased their price objective on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Melius Research began coverage on shares of Best Buy in a research report on Monday, September 23rd. They set a “hold” rating and a $100.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.