World Investment Advisors LLC Buys New Shares in Best Buy Co., Inc. (NYSE:BBY)

World Investment Advisors LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 50,667 shares of the technology retailer's stock, valued at approximately $5,234,000.

A number of other hedge funds also recently modified their holdings of BBY. TCW Group Inc. raised its holdings in Best Buy by 156.6% in the 3rd quarter. TCW Group Inc. now owns 316,593 shares of the technology retailer's stock valued at $32,704,000 after acquiring an additional 193,209 shares during the period. Toronto Dominion Bank increased its stake in shares of Best Buy by 82.2% during the third quarter. Toronto Dominion Bank now owns 102,292 shares of the technology retailer's stock worth $10,567,000 after purchasing an additional 46,152 shares during the period. Coldstream Capital Management Inc. acquired a new stake in Best Buy during the 3rd quarter worth approximately $367,000. Geode Capital Management LLC boosted its stake in Best Buy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer's stock valued at $499,954,000 after purchasing an additional 120,185 shares during the period. Finally, LRI Investments LLC grew its holdings in 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 buying an additional 335 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their target price on Best Buy from $70.00 to $80.00 and gave the stock an "underperform" rating in a report on Friday, August 30th. Wedbush raised their price objective on Best Buy from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Friday, August 30th. DA Davidson reiterated a "buy" rating and set a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. Telsey Advisory Group cut their price target on shares of Best Buy from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Tuesday, November 26th. Finally, Barclays raised their price objective on Best Buy from $81.00 to $95.00 and gave the company an "equal weight" rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Best Buy has an average rating of "Moderate Buy" and a consensus target price of $101.06.

Best Buy Trading Down 1.0 %

NYSE:BBY traded down $0.85 on Friday, reaching $87.55. 891,004 shares of the stock traded hands, compared to its average volume of 3,074,951. The firm has a market capitalization of $18.72 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. 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's 50 day moving average is $91.78 and its 200-day moving average is $90.17.

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

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.29%. Best Buy's payout ratio is 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.