Petrus Trust Company LTA Acquires New Shares in Best Buy Co., Inc. (NYSE:BBY)

Petrus Trust Company LTA acquired a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,184 shares of the technology retailer's stock, valued at approximately $845,000.

Other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. boosted 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 purchasing an additional 210 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy in the 3rd quarter worth $40,000. Innealta Capital LLC acquired a new stake in shares of Best Buy in the 2nd quarter worth $35,000. Brooklyn Investment Group acquired a new stake in shares of Best Buy in the 3rd quarter worth $44,000. Finally, Whittier Trust Co. lifted its position in Best Buy by 53.3% during the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer's stock worth $41,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BBY shares. Telsey Advisory Group lowered their price target on Best Buy from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, November 26th. DA Davidson reaffirmed a "buy" rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price target on Best Buy from $111.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Bank of America lifted their price target on Best Buy from $70.00 to $80.00 and gave the stock an "underperform" rating in a research report on Friday, August 30th. Finally, Loop Capital decreased their price objective on Best Buy from $110.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Best Buy currently has an average rating of "Moderate Buy" and an average price target of $101.06.

Best Buy Price Performance

NYSE:BBY traded up $1.53 during trading hours on Wednesday, hitting $90.50. 3,654,537 shares of the stock were exchanged, compared to its average volume of 3,074,149. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The firm's fifty day moving average price is $93.33 and its 200 day moving average price is $89.62. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a market cap of $19.43 billion, a P/E ratio of 15.47, a P/E/G ratio of 2.28 and a beta of 1.44.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $9.63 billion. During the same quarter last year, the firm posted $1.29 earnings per share. Best Buy's quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Tuesday, December 17th. Best Buy's dividend payout ratio is presently 64.27%.

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.