Best Buy (NYSE:BBY) Shares Down 1.3% - Time to Sell?

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) shares dropped 1.3% during trading on Tuesday . The company traded as low as $86.06 and last traded at $86.18. Approximately 1,458,536 shares changed hands during trading, a decline of 52% from the average daily volume of 3,069,588 shares. The stock had previously closed at $87.32.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BBY shares. Telsey Advisory Group dropped their target price on shares of Best Buy from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, November 26th. Bank of America raised their price objective on shares of Best Buy from $70.00 to $80.00 and gave the stock an "underperform" rating in a report on Friday, August 30th. Evercore ISI boosted their target price on Best Buy from $90.00 to $94.00 and gave the stock an "in-line" rating in a report on Friday, August 30th. Wells Fargo & Company dropped their price target on Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a report on Wednesday, November 27th. Finally, DA Davidson reissued a "buy" rating and issued a $117.00 price objective on shares of Best Buy in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $101.06.

Best Buy Stock Performance

The stock has a fifty day simple moving average of $92.52 and a 200-day simple moving average of $90.10. The stock has a market cap of $18.54 billion, a P/E ratio of 14.73, a PEG ratio of 2.21 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be issued a $0.94 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.36%. Best Buy's dividend payout ratio is currently 64.27%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBY. Richardson Financial Services Inc. grew 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 buying an additional 210 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy during the 3rd quarter worth $40,000. LRI Investments LLC increased its position in shares of Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer's stock worth $40,000 after purchasing an additional 335 shares during the period. Innealta Capital LLC acquired a new position in Best Buy in the second quarter valued at about $35,000. Finally, Brooklyn Investment Group bought a new stake in Best Buy during the third quarter worth about $44,000. 80.96% of the stock is owned by institutional investors and hedge funds.

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.

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