Ashton Thomas Private Wealth LLC Acquires 215 Shares of Best Buy Co., Inc. (NYSE:BBY)

Ashton Thomas Private Wealth LLC grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 6.8% in the 4th quarter, HoldingsChannel reports. The firm owned 3,354 shares of the technology retailer’s stock after buying an additional 215 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Best Buy were worth $291,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Best Buy in the 4th quarter valued at about $32,000. Trust Co. of Vermont raised its holdings in shares of Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after purchasing an additional 384 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Best Buy in the 3rd quarter valued at about $44,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Best Buy by 71.9% in the 4th quarter. Richardson Financial Services Inc. now owns 550 shares of the technology retailer’s stock valued at $47,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY opened at $74.82 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.22 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 company has a 50 day simple moving average of $85.23 and a two-hundred day simple moving average of $90.32. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating the consensus estimate of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the business posted $2.72 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.08%. This is a boost from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is presently 88.99%.

Analysts Set New Price Targets

BBY has been the topic of a number of analyst reports. Loop Capital reaffirmed a “negative” rating on shares of Best Buy in a research report on Wednesday, March 5th. Evercore ISI cut their price objective on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. UBS Group set a $105.00 price objective on shares of Best Buy in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, DA Davidson cut their price objective on shares of Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $93.50.

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.