Thompson Davis & CO. Inc. Invests $222,000 in Best Buy Co., Inc. (NYSE:BBY)

Thompson Davis & CO. Inc. acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,150 shares of the technology retailer’s stock, valued at approximately $222,000.

A number of other large investors also recently bought and sold shares of the business. Richardson Financial Services Inc. raised its position in shares of Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after acquiring an additional 210 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Best Buy in the third quarter worth about $40,000. Innealta Capital LLC purchased a new stake in shares of Best Buy during the second quarter valued at about $35,000. Whittier Trust Co. boosted its holdings in shares of Best Buy by 53.3% in the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock valued at $41,000 after buying an additional 171 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Best Buy by 50.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer’s stock worth $42,000 after buying an additional 166 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 2.2 %

NYSE:BBY opened at $87.00 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The company’s fifty day moving average price is $95.33 and its 200-day moving average price is $88.54. Best Buy Co., Inc. has a 1-year low of $62.92 and a 1-year high of $103.71. The firm has a market capitalization of $18.68 billion, a P/E ratio of 15.00, a PEG ratio of 2.43 and a beta of 1.47.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.18. The company had revenue of $9.29 billion for 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 firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders 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 4.32%. Best Buy’s payout ratio is 64.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BBY. Barclays increased their target price 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. Bank of America raised their price objective on Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research report on Friday, August 30th. BNP Paribas raised Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. DA Davidson reissued a “buy” rating and issued a $117.00 price target on shares of Best Buy in a report on Tuesday, October 15th. Finally, Wedbush boosted their price target on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.35.

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.