Cerity Partners LLC Raises Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Cerity Partners LLC increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 31.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,627 shares of the technology retailer’s stock after acquiring an additional 40,076 shares during the quarter. Cerity Partners LLC owned approximately 0.08% of Best Buy worth $17,109,000 as of its most recent SEC filing.

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

Best Buy Price Performance

Shares of NYSE BBY opened at $93.03 on Tuesday. The stock’s 50-day simple moving average is $94.60 and its two-hundred day simple moving average is $88.97. Best Buy Co., Inc. has a twelve month low of $68.12 and a twelve month high of $103.71. The firm has a market capitalization of $19.98 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.34 and a beta of 1.47. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced 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. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period last year, the firm posted $1.22 earnings per share. Best Buy’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal 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 given a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 4.04%. Best Buy’s dividend payout ratio (DPR) is presently 64.83%.

Analyst Ratings Changes

A number of analysts have issued reports on BBY shares. Evercore ISI raised their target price on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research report on Friday, August 30th. DA Davidson restated a “buy” rating and issued a $117.00 price objective on shares of Best Buy in a research note on Tuesday, October 15th. Bank of America increased their target price on shares of Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Wedbush boosted their price target on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, UBS Group raised their price objective on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Best Buy 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.