True Wealth Design LLC Sells 9,861 Shares of Best Buy Co., Inc. (NYSE:BBY)

True Wealth Design LLC lessened its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 92.3% during the 3rd quarter, Holdings Channel reports. The fund owned 823 shares of the technology retailer’s stock after selling 9,861 shares during the period. True Wealth Design LLC’s holdings in Best Buy were worth $85,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park Avenue Securities LLC boosted its position in Best Buy by 1.3% during the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock valued at $855,000 after purchasing an additional 103 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Best Buy by 1.2% in the 3rd quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after buying an additional 108 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock worth $276,000 after buying an additional 118 shares during the last quarter. Tobam raised its stake in shares of Best Buy by 15.6% during the 2nd quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after acquiring an additional 121 shares in the last quarter. Finally, Hoxton Planning & Management LLC lifted its position in Best Buy by 3.7% during the third quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock valued at $360,000 after acquiring an additional 124 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BBY. DA Davidson reaffirmed a “buy” rating and issued a $117.00 price target on shares of Best Buy in a report on Tuesday, October 15th. Melius Research assumed coverage on Best Buy in a research note on Monday, September 23rd. They set a “hold” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Telsey Advisory Group cut their price objective on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $114.00 target price (up from $100.00) on shares of Best Buy in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.06.

Best Buy Trading Up 2.1 %

NYSE BBY opened at $90.00 on Friday. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.34. The company has a market capitalization of $19.33 billion, a PE ratio of 15.38, a P/E/G ratio of 2.39 and a beta of 1.47. The company has a fifty day moving average of $93.81 and a 200 day moving average of $89.27.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. Research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Tuesday, December 17th. Best Buy’s payout ratio is presently 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.