Best Buy Co., Inc. (NYSE:BBY) Stock Holdings Cut by Foster & Motley Inc.

Foster & Motley Inc. lessened its position in Best Buy Co., Inc. (NYSE:BBY) by 14.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,792 shares of the technology retailer’s stock after selling 7,429 shares during the period. Foster & Motley Inc.’s holdings in Best Buy were worth $4,524,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BBY. GAMMA Investing LLC boosted its position in shares of Best Buy by 78.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock valued at $172,000 after purchasing an additional 898 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Best Buy by 11.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock worth $6,302,000 after buying an additional 7,663 shares during the last quarter. M&G Plc bought a new position in shares of Best Buy in the first quarter valued at $8,608,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Best Buy by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after acquiring an additional 18,171 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Best Buy by 10.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 99,769 shares of the technology retailer’s stock worth $8,410,000 after acquiring an additional 9,785 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Evercore ISI upped their target price on Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a report on Friday, August 30th. Loop Capital upped their price objective on shares of Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wedbush lifted their target price on shares of Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Citigroup upped their price target on shares of Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.71.

Best Buy Stock Performance

Shares of BBY stock opened at $91.00 on Wednesday. The firm has a market cap of $19.54 billion, a P/E ratio of 16.01, a PEG ratio of 2.38 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. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71. The stock’s 50-day moving average is $96.98 and its two-hundred day moving average is $87.43.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 earnings per share. Analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, September 19th. Best Buy’s payout ratio is 64.83%.

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.