My Legacy Advisors LLC Sells 116 Shares of Best Buy Co., Inc. (NYSE:BBY)

My Legacy Advisors LLC lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,520 shares of the technology retailer’s stock after selling 116 shares during the quarter. My Legacy Advisors LLC’s holdings in Best Buy were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. boosted its holdings in Best Buy by 190.9% in the second 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. Palisade Asset Management LLC purchased a new position in shares of Best Buy in the first quarter worth approximately $27,000. PrairieView Partners LLC grew its position in Best Buy by 67.1% during the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after buying an additional 151 shares during the period. Innealta Capital LLC purchased a new stake in Best Buy during the second quarter valued at approximately $35,000. Finally, Whittier Trust Co. raised its position in Best Buy by 53.3% in the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock worth $41,000 after acquiring an additional 171 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.7 %

Shares of NYSE:BBY opened at $93.78 on Wednesday. The company has a 50-day moving average price of $95.81 and a 200 day moving average price of $86.46. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $103.71. The company has a market cap of $20.23 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.58 and a beta of 1.46.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The firm 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 47.19% and a net margin of 2.96%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.01%. Best Buy’s dividend payout ratio is presently 65.85%.

Analysts Set New Price Targets

BBY has been the subject of a number of recent research reports. StockNews.com raised shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Monday. Telsey Advisory Group upped their price target on Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price objective on Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Citigroup increased their target price on shares of Best Buy from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, BNP Paribas upgraded shares of Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company 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.