GenTrust LLC Takes $311,000 Position in Best Buy Co., Inc. (NYSE:BBY)

GenTrust LLC acquired a new position in Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,984 shares of the technology retailer’s stock, valued at approximately $311,000.

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

Best Buy Stock Performance

BBY opened at $89.56 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $94.72 and its two-hundred day moving average price is $88.62. The firm has a market capitalization of $19.23 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 2.28 and a beta of 1.47. Best Buy Co., Inc. has a 12-month low of $67.80 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. The business had revenue of $9.29 billion for 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%. Best Buy’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s payout ratio is presently 64.83%.

Analysts Set New Price Targets

BBY has been the subject of a number of research reports. BNP Paribas raised Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. Loop Capital boosted their price target on Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company raised their price objective on shares of Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. The Goldman Sachs Group lifted their target price on shares of Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, DA Davidson restated a “buy” rating and set a $117.00 price target on shares of Best Buy in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.71.

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.