First Horizon Advisors Inc. Has $126,000 Stock Position in Best Buy Co., Inc. (NYSE:BBY)

First Horizon Advisors Inc. reduced its stake in Best Buy Co., Inc. (NYSE:BBY) by 15.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,222 shares of the technology retailer’s stock after selling 224 shares during the period. First Horizon Advisors Inc.’s holdings in Best Buy were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in shares of Best Buy by 1.3% during the 3rd quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock valued at $855,000 after purchasing an additional 103 shares during the last quarter. Greenleaf Trust increased its stake in shares of Best Buy by 1.2% in the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after buying an additional 108 shares during the period. SeaCrest Wealth Management LLC raised its position in shares of Best Buy by 4.6% during the third quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock worth $276,000 after acquiring an additional 118 shares during the last quarter. Tobam lifted its stake in shares of Best Buy by 15.6% in the second quarter. Tobam now owns 895 shares of the technology retailer’s stock worth $75,000 after acquiring an additional 121 shares during the period. Finally, Hoxton Planning & Management LLC boosted its holdings in Best Buy by 3.7% in the third quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock valued at $360,000 after acquiring an additional 124 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Performance

Shares of BBY stock opened at $89.54 on Friday. The firm’s 50 day moving average is $94.72 and its 200 day moving average is $88.73. The stock has a market capitalization of $19.23 billion, a P/E ratio of 15.44, a PEG ratio of 2.26 and a beta of 1.47. Best Buy Co., Inc. has a 12 month low of $67.80 and a 12 month high of $103.71. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion for 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%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Thursday, September 19th. Best Buy’s payout ratio is 64.83%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BBY. The Goldman Sachs Group lifted their target price on Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays upped their target price on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Evercore ISI lifted their price objective on shares of Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a report on Friday, August 30th. Bank of America boosted their target price on Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research note on Friday, August 30th. Finally, Telsey Advisory Group boosted their price objective on Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.71.

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.