Nwam LLC Buys 1,025 Shares of Best Buy Co., Inc. (NYSE:BBY)

Nwam LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,278 shares of the technology retailer’s stock after buying an additional 1,025 shares during the period. Nwam LLC’s holdings in Best Buy were worth $4,264,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. boosted its position in Best Buy by 190.9% in the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after buying an additional 210 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Best Buy in the 3rd quarter worth about $40,000. Innealta Capital LLC acquired a new position in Best Buy in the 2nd quarter worth about $35,000. Whittier Trust Co. raised its position in Best Buy by 53.3% in the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock valued at $41,000 after purchasing an additional 171 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in shares of Best Buy by 50.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer’s stock valued at $42,000 after purchasing an additional 166 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Up 2.8 %

Shares of NYSE BBY opened at $88.96 on Friday. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 2.28 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. The firm’s 50-day moving average price is $94.89 and its 200-day moving average price is $88.51. Best Buy Co., Inc. has a 12-month low of $67.80 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly 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 return on equity of 47.19% and a net margin of 2.96%. The firm 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 posted $1.22 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 4.23%. Best Buy’s dividend payout ratio is currently 64.83%.

Wall Street Analysts Forecast Growth

BBY has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group boosted their price objective on Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. DA Davidson reiterated a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. Citigroup lowered their target price 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. Finally, StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Best Buy has a consensus rating of “Moderate Buy” and a consensus target price of $103.35.

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.