JNBA Financial Advisors trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) by 5.9% during the 3rd quarter, Holdings Channel reports. The firm owned 16,000 shares of the technology retailer’s stock after selling 1,000 shares during the period. 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 large investors also recently modified their holdings of BBY. Richardson Financial Services Inc. raised its position 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 buying an additional 210 shares during the last quarter. PrairieView Partners LLC lifted its stake in Best Buy by 67.1% in the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after purchasing an additional 151 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Best Buy during the 2nd quarter valued at about $35,000. Harbor Capital Advisors Inc. purchased a new position in shares of Best Buy during the third quarter valued at about $40,000. Finally, Whittier Trust Co. increased its holdings in shares of Best Buy by 53.3% in 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 last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Best Buy Stock Down 5.8 %
NYSE:BBY traded down $5.38 during trading hours on Wednesday, reaching $87.46. The company’s stock had a trading volume of 1,641,969 shares, compared to its average volume of 2,980,672. The stock has a 50 day moving average price of $96.98 and a two-hundred day moving average price of $87.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The company has a market capitalization of $18.78 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $103.71.
Best Buy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.30%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio is currently 64.83%.
Analyst Ratings Changes
BBY has been the subject of a number of recent research reports. Telsey Advisory Group raised their target price on shares of Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Wedbush lifted their target price on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Melius Research started coverage on shares of Best Buy in a research note on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. increased their price objective 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. Finally, Evercore ISI upped their target price on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.
Check Out Our Latest Analysis on Best Buy
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.
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