Foster & Motley Inc. Sells 650 Shares of Best Buy Co., Inc. (NYSE:BBY)

Foster & Motley Inc. decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,221 shares of the technology retailer’s stock after selling 650 shares during the period. Foster & Motley Inc.’s holdings in Best Buy were worth $4,317,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of BBY. Rise Advisors LLC lifted its holdings in Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after acquiring an additional 132 shares during the period. Access Investment Management LLC purchased a new stake in Best Buy during the fourth quarter worth about $27,000. Palisade Asset Management LLC purchased a new position in Best Buy in the first quarter valued at about $27,000. PrairieView Partners LLC increased its stake in shares of Best Buy by 67.1% during the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after purchasing an additional 151 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in Best Buy in the second quarter valued at approximately $35,000. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the subject of a number of recent research reports. Bank of America raised their target price on Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Evercore ISI lifted their target price on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research note on Friday, August 30th. Loop Capital boosted their price target 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. The Goldman Sachs Group lifted their price objective on shares of Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, UBS Group increased their target price on Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.56.

Best Buy Price Performance

BBY traded up $0.54 during trading on Thursday, reaching $100.50. The stock had a trading volume of 218,732 shares, compared to its average volume of 3,118,109. The business has a 50-day moving average of $86.76 and a 200-day moving average of $81.69. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01. The stock has a market cap of $21.68 billion, a PE ratio of 17.51, a PEG ratio of 3.20 and a beta of 1.46.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The company had revenue of $9.29 billion for 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%. Best Buy’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $1.22 EPS. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.27 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Thursday, September 19th. Best Buy’s dividend payout ratio is currently 65.85%.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 691,328 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $88.46, for a total value of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Best Buy news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the sale, the executive vice president now directly owns 50,714 shares in the company, valued at $4,210,276.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard M. Schulze sold 691,328 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the completion of the sale, the chairman now directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The disclosure for this sale can be found here. Insiders sold a total of 1,383,370 shares of company stock worth $122,233,276 over the last three months. Company insiders own 0.59% of the company’s stock.

Best Buy 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.