Apollon Wealth Management LLC Buys 279 Shares of Best Buy Co., Inc. (NYSE:BBY)

Apollon Wealth Management LLC increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,913 shares of the technology retailer’s stock after acquiring an additional 279 shares during the period. Apollon Wealth Management LLC’s holdings in Best Buy were worth $507,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BBY. Versor Investments LP bought a new stake in shares of Best Buy during the 3rd quarter worth approximately $1,270,000. Access Investment Management LLC increased its holdings in Best Buy by 12.2% during the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after buying an additional 150 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Best Buy by 3.9% in the third quarter. Venturi Wealth Management LLC now owns 6,075 shares of the technology retailer’s stock valued at $628,000 after acquiring an additional 226 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Best Buy in the 3rd quarter valued at about $72,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Best Buy by 496.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,229 shares of the technology retailer’s stock valued at $4,879,000 after acquiring an additional 39,307 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Price Performance

Best Buy stock opened at $92.66 on Friday. The firm has a market cap of $19.90 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.37 and a beta of 1.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The stock’s fifty day moving average price is $95.70 and its two-hundred day moving average price is $88.12. Best Buy Co., Inc. has a one year low of $62.92 and a one year high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. Best Buy’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. As a group, research analysts expect that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 4.06%. Best Buy’s dividend payout ratio (DPR) is 64.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $114.00 target price (up from $100.00) on shares of Best Buy in a research note on Friday, August 30th. Wells Fargo & Company lifted their target price 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. Barclays increased their price target 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. Bank of America lifted their price objective on shares of 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 increased their price objective on shares of Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.35.

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.