National Wealth Management Group LLC Buys Shares of 5,380 Best Buy Co., Inc. (NYSE:BBY)

National Wealth Management Group LLC bought a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,380 shares of the technology retailer’s stock, valued at approximately $556,000.

Several other institutional investors have also recently bought and sold shares of BBY. Richardson Financial Services Inc. increased its position in shares of Best Buy by 190.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 210 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Best Buy during the 2nd quarter worth approximately $35,000. Harbor Capital Advisors Inc. acquired a new position in shares of Best Buy during the 3rd quarter worth approximately $40,000. Whittier Trust Co. increased its position in shares of Best Buy by 53.3% during 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 last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Best Buy by 103.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer’s stock worth $42,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BBY shares. Wells Fargo & Company lowered their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Citigroup decreased their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday. Melius Research initiated coverage on Best Buy in a report on Monday, September 23rd. They set a “hold” rating and a $100.00 target price on the stock. Finally, Loop Capital decreased their target price on Best Buy from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.82.

Best Buy Stock Performance

NYSE:BBY opened at $88.15 on Thursday. The stock has a fifty day moving average price of $94.16 and a 200-day moving average price of $89.07. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 2.44 and a beta of 1.47. 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 Co., Inc. has a fifty-two week low of $68.67 and a fifty-two week high of $103.71.

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

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.27%. Best Buy’s payout ratio is 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.