Impact Partnership Wealth LLC Purchases 5,555 Shares of Best Buy Co., Inc. (NYSE:BBY)

Impact Partnership Wealth LLC boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 126.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,947 shares of the technology retailer’s stock after purchasing an additional 5,555 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Best Buy were worth $1,028,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Greystone Financial Group LLC increased its holdings in shares of Best Buy by 48.6% during the third quarter. Greystone Financial Group LLC now owns 71,277 shares of the technology retailer’s stock valued at $7,363,000 after acquiring an additional 23,306 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Best Buy during the third quarter valued at $121,660,000. Greenleaf Trust increased its holdings in shares of Best Buy by 1.2% during the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after acquiring an additional 108 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Best Buy by 9.1% during the third quarter. Private Advisor Group LLC now owns 6,359 shares of the technology retailer’s stock valued at $657,000 after acquiring an additional 530 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Best Buy during the third quarter valued at $3,774,000. Institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BBY. The Goldman Sachs Group increased their price objective on Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Citigroup increased their price objective on Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Telsey Advisory Group increased their price objective on Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Melius Research began coverage on Best Buy in a research report on Monday, September 23rd. They issued a “hold” rating and a $100.00 target price on the stock. Finally, Truist Financial raised their target price on Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.

Best Buy Stock Down 0.2 %

Shares of BBY traded down $0.23 during trading hours on Thursday, hitting $93.12. The company had a trading volume of 35,572 shares, compared to its average volume of 3,002,870. The company has a market capitalization of $20.09 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. 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 one year low of $62.30 and a one year high of $103.71. The company’s fifty day moving average price is $96.02 and its two-hundred day moving average price is $86.51.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. As a group, equities analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.04%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio is currently 65.85%.

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.