Centiva Capital LP Makes New $292,000 Investment in Best Buy Co., Inc. (NYSE:BBY)

Centiva Capital LP bought a new position in Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,823 shares of the technology retailer’s stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BBY. Richardson Financial Services Inc. boosted its stake in Best Buy by 190.9% in the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after buying an additional 210 shares in the last quarter. Innealta Capital LLC purchased a new stake in Best Buy in the second quarter worth approximately $35,000. Harbor Capital Advisors Inc. purchased a new stake in Best Buy in the third quarter worth approximately $40,000. Whittier Trust Co. lifted 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. lifted its position in Best Buy by 50.8% in the second 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. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the subject of several recent research reports. Truist Financial lowered their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. The Goldman Sachs Group boosted 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. Guggenheim lowered their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 29th. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Melius Research initiated coverage on Best Buy in a report on Monday, September 23rd. They set a “hold” rating and a $100.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.06.

Best Buy Trading Down 0.7 %

NYSE BBY opened at $86.75 on Wednesday. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The stock has a market cap of $18.63 billion, a P/E ratio of 14.82, a P/E/G ratio of 2.21 and a beta of 1.44. The stock’s fifty day moving average price is $92.52 and its 200-day moving average price is $90.10. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be paid a $0.94 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.33%. Best Buy’s dividend payout ratio is currently 64.27%.

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.