40,090 Shares in Best Buy Co., Inc. $BBY Bought by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. acquired a new position in Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 40,090 shares of the technology retailer’s stock, valued at approximately $3,032,000.

Several other large investors have also recently added to or reduced their stakes in BBY. Harbor Capital Advisors Inc. increased its holdings in shares of Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 138 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Best Buy during the 3rd quarter valued at $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Best Buy in the 2nd quarter valued at $33,000. MUFG Securities EMEA plc acquired a new position in shares of Best Buy in the second quarter worth about $38,000. Finally, True Wealth Design LLC grew its position in Best Buy by 775.3% during the 2nd quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after purchasing an additional 566 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Down 0.1%

Shares of BBY stock opened at $62.65 on Wednesday. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $91.20. The stock has a 50 day moving average of $67.65 and a 200-day moving average of $73.18. The firm has a market cap of $13.13 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The business had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Wall Street Analysts Forecast Growth

BBY has been the topic of several research analyst reports. Evercore lowered their target price on Best Buy from $80.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, February 3rd. Morgan Stanley cut their price objective on Best Buy from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research note on Wednesday, November 26th. Citigroup dropped their target price on Best Buy from $82.00 to $67.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. lowered shares of Best Buy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $99.00 to $76.00 in a research report on Monday, February 2nd. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Best Buy currently has an average rating of “Hold” and a consensus target price of $79.79.

Best Buy Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.