36,536 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Eastern Bank

Eastern Bank bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 36,536 shares of the technology retailer's stock, valued at approximately $3,774,000.

Other large investors have also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new stake in shares of Best Buy during the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. increased its holdings in Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer's stock valued at $27,000 after buying an additional 210 shares during the period. PrairieView Partners LLC raised its stake in shares of Best Buy by 67.1% in the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer's stock valued at $31,000 after buying an additional 151 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Best Buy during the 2nd quarter worth about $35,000. Finally, Whittier Trust Co. boosted its position in shares of Best Buy by 53.3% during the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer's stock valued at $41,000 after acquiring an additional 171 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBY has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on shares of Best Buy from $95.00 to $116.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price target on Best Buy from $101.00 to $111.00 and gave the company an "overweight" rating in a research note on Friday, August 30th. Wells Fargo & Company increased their price objective on Best Buy from $80.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Friday, August 30th. Truist Financial boosted their target price on shares of Best Buy from $86.00 to $107.00 and gave the company a "hold" rating in a research note 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.71.

Best Buy Trading Down 0.4 %

Shares of NYSE BBY traded down $0.42 during midday trading on Wednesday, hitting $93.35. The stock had a trading volume of 1,484,757 shares, compared to its average volume of 3,017,344. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71. The firm has a market cap of $20.14 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. The company's 50-day simple moving average is $95.81 and its 200 day simple moving average is $86.46.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data 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 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy's dividend payout ratio is presently 65.85%.

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.