1,922 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Focus Financial Network Inc.

Focus Financial Network Inc. acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,922 shares of the technology retailer’s stock, valued at approximately $200,000.

Several other large investors have also made changes to their positions in BBY. Ninety One UK Ltd acquired a new position in Best Buy during the second quarter valued at $121,325,000. Thrivent Financial for Lutherans lifted its holdings in shares of Best Buy by 4,337.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after buying an additional 1,074,718 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Best Buy by 55.7% in the second quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock worth $241,347,000 after buying an additional 1,024,824 shares during the last quarter. Swedbank AB acquired a new stake in Best Buy during the first quarter worth about $43,522,000. Finally, AQR Capital Management LLC raised its position in Best Buy by 55.4% during the second quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after acquiring an additional 491,781 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Performance

NYSE:BBY opened at $92.82 on Tuesday. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $103.71. The company has a market cap of $19.93 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.37 and a beta of 1.48. 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 company’s 50-day moving average price is $96.90 and its 200-day moving average price is $87.32.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping 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 business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, sell-side analysts forecast that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.94 per share. The ex-dividend date was Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 4.05%. Best Buy’s dividend payout ratio is presently 64.83%.

Analyst Upgrades and Downgrades

Several research firms have commented on BBY. Barclays upped their price objective on Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. UBS Group raised their price target on shares of Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Evercore ISI upped their price objective 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. StockNews.com upgraded Best Buy from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Loop Capital upped their price target on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Best Buy has a consensus rating of “Moderate Buy” and an average target price 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.