Burford Brothers Inc. Buys Shares of 5,017 Best Buy Co., Inc. (NYSE:BBY)

Burford Brothers Inc. bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the third quarter, Holdings Channel reports. The fund bought 5,017 shares of the technology retailer’s stock, valued at approximately $518,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BBY. Raymond James & Associates grew its holdings in shares of Best Buy by 1.8% during the third quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer’s stock valued at $355,374,000 after buying an additional 62,452 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Best Buy by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,055,743 shares of the technology retailer’s stock valued at $257,569,000 after buying an additional 235,478 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Best Buy by 55.7% during the second quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock valued at $241,347,000 after buying an additional 1,024,824 shares during the last quarter. Ninety One UK Ltd purchased a new stake in shares of Best Buy during the second quarter valued at approximately $121,325,000. Finally, AQR Capital Management LLC grew its holdings in shares of 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 buying an additional 491,781 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 1.5 %

Shares of BBY stock opened at $92.68 on Friday. The stock has a market cap of $19.99 billion, a P/E ratio of 16.23, a PEG ratio of 2.58 and a beta of 1.46. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $103.71. 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 company’s fifty day simple moving average is $96.22 and its two-hundred day simple moving average is $86.56.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 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 analysts’ expectations of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. Analysts predict that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s dividend payout ratio is 65.85%.

Analyst Upgrades and Downgrades

BBY has been the topic of a number of recent analyst reports. DA Davidson reiterated a “buy” rating and set a $117.00 price target on shares of Best Buy in a report on Tuesday, October 15th. UBS Group boosted their price objective 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. StockNews.com raised shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Truist Financial boosted their price objective on shares of Best Buy from $86.00 to $107.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Finally, Barclays boosted their price objective on shares of Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy currently 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.