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

Foster & Motley Inc. lowered its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 14.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Richardson Financial Services Inc. boosted its position in Best Buy by 190.9% during the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer's stock worth $27,000 after purchasing an additional 210 shares during the period. PrairieView Partners LLC increased its position in shares of Best Buy by 67.1% during the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer's stock valued at $31,000 after buying an additional 151 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the third quarter worth about $40,000. Innealta Capital LLC bought a new position in shares of Best Buy in the second quarter valued at approximately $35,000. Finally, Whittier Trust Co. grew its stake in Best Buy by 53.3% during the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer's stock valued at $41,000 after acquiring an additional 171 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DA Davidson reissued a "buy" rating and issued a $117.00 price target on shares of Best Buy in a report on Tuesday, October 15th. Telsey Advisory Group boosted their target price on Best Buy from $95.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. Citigroup lifted their price target on Best Buy from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Evercore ISI raised their target price on shares of Best Buy from $90.00 to $94.00 and gave the company an "in-line" rating in a research note on Friday, August 30th. Finally, Melius Research assumed coverage on shares of Best Buy in a research note on Monday, September 23rd. They issued a "hold" rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Best Buy has a consensus rating of "Moderate Buy" and an average target price of $103.71.

Best Buy Trading Down 3.7 %

BBY stock traded down $3.42 during trading on Wednesday, hitting $89.42. 4,939,042 shares of the company traded hands, compared to its average volume of 2,995,458. The company has a 50-day moving average of $96.98 and a 200-day moving average of $87.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $103.71. The firm has a market capitalization of $19.20 billion, a PE ratio of 15.41, a P/E/G ratio of 2.38 and a beta of 1.47.

Best Buy (NYSE:BBY - Get Free Report) last released 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. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The business's quarterly revenue was down 3.1% compared to the same quarter last year. Analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Thursday, September 19th. Best Buy's dividend payout ratio (DPR) 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.