White Knight Strategic Wealth Advisors LLC Invests $220,000 in Best Buy Co., Inc. (NYSE:BBY)

White Knight Strategic Wealth Advisors LLC purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,125 shares of the technology retailer’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also modified their holdings of BBY. Park Avenue Securities LLC raised its holdings in Best Buy by 1.3% during the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock valued at $855,000 after buying an additional 103 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Best Buy by 1.2% during the 3rd 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 raised its stake in shares of Best Buy by 4.6% in 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 in the last quarter. Tobam lifted its holdings in 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 last quarter. Finally, Hoxton Planning & Management LLC boosted its position in Best Buy by 3.7% during the third 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. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Performance

NYSE:BBY opened at $90.05 on Friday. The firm has a market capitalization of $19.34 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.34 and a beta of 1.47. The company has a quick ratio of 0.34, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The firm has a 50-day moving average price of $93.81 and a 200 day moving average price of $89.17.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The business 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 45.93% and a net margin of 3.01%. Best Buy’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.19 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.18%. Best Buy’s payout ratio is presently 64.27%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BBY shares. Bank of America lifted their price target on shares of Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. UBS Group lowered their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday. BNP Paribas raised Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Telsey Advisory Group lowered their target price on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

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.