Raymond James Trust N.A. Buys 2,680 Shares of Best Buy Co., Inc. (NYSE:BBY)

Raymond James Trust N.A. increased its position in Best Buy Co., Inc. (NYSE:BBY) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,316 shares of the technology retailer’s stock after purchasing an additional 2,680 shares during the quarter. Raymond James Trust N.A.’s holdings in Best Buy were worth $4,681,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BBY. Richardson Financial Services Inc. increased its stake 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 period. Innealta Capital LLC bought a new stake in shares of Best Buy in the 2nd quarter valued at about $35,000. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy in the 3rd quarter valued at about $40,000. Whittier Trust Co. lifted its position in shares of Best Buy by 53.3% in the 2nd 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 period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Best Buy by 103.6% during the first quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer’s stock valued at $42,000 after purchasing an additional 259 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BNP Paribas upgraded Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Bank of America lifted their target price on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. Loop Capital increased their price target on shares of Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Citigroup lowered their price target on shares of Best Buy from $115.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.71.

Best Buy Stock Up 3.5 %

Best Buy stock opened at $89.56 on Friday. The business’s 50-day simple moving average is $94.72 and its two-hundred day simple moving average is $88.62. The company has a market cap of $19.23 billion, a PE ratio of 15.44, a PEG ratio of 2.28 and a beta of 1.47. Best Buy Co., Inc. has a fifty-two week low of $67.80 and a fifty-two week high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Equities analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared 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 4.20%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s dividend payout ratio is currently 64.83%.

Best Buy 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.