Foster & Motley Inc. Has $4.52 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Foster & Motley Inc. trimmed its position in Best Buy Co., Inc. (NYSE:BBY) by 14.5% in the third quarter, according to its most recent Form 13F filing 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 quarter. Foster & Motley Inc.’s holdings in Best Buy were worth $4,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position in Best Buy by 78.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,039 shares of the technology retailer’s stock worth $172,000 after acquiring an additional 898 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of 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 purchasing an additional 7,663 shares during the period. M&G Plc acquired a new position in shares of Best Buy during the 1st quarter worth about $8,608,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 purchasing an additional 18,171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Best Buy by 10.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 99,769 shares of the technology retailer’s stock valued at $8,410,000 after buying an additional 9,785 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Performance

NYSE:BBY opened at $91.00 on Wednesday. The stock has a market capitalization of $19.54 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $103.71. The firm has a 50 day moving average of $96.98 and a 200-day moving average of $87.43. 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 quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were given a $0.94 dividend. 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 presently 64.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson reissued a “buy” rating and issued a $117.00 price objective on shares of Best Buy in a research report on Tuesday, October 15th. UBS Group raised their price target on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and set a $114.00 target price (up from $100.00) on shares of Best Buy in a research report on Friday, August 30th. Melius Research initiated coverage on Best Buy in a research report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.71.

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.