Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,463 shares of the technology retailer’s stock after buying an additional 432 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Best Buy were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Best Buy by 0.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 576,416 shares of the technology retailer’s stock worth $47,283,000 after buying an additional 2,235 shares in the last quarter. Norden Group LLC purchased a new position in shares of Best Buy during the first quarter valued at approximately $1,723,000. First Trust Direct Indexing L.P. purchased a new position in shares of Best Buy during the first quarter valued at approximately $216,000. Diversify Advisory Services LLC purchased a new position in shares of Best Buy during the first quarter valued at approximately $210,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Best Buy by 119.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 184,635 shares of the technology retailer’s stock valued at $14,559,000 after buying an additional 100,689 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $90.92 on Friday. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $103.71. The firm’s 50 day moving average is $96.82 and its 200-day moving average is $87.04. The stock has a market capitalization of $19.52 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.37 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34.

Best Buy (NYSE:BBY) last announced its 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. 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 during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period last year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business 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. This represents a $3.76 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio is currently 64.83%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Friday. Evercore ISI upped their price target on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research report on Friday, August 30th. Wells Fargo & Company upped their price target on shares of Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Telsey Advisory Group upped their price target on shares of Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One equities 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.