Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp trimmed its stake in Best Buy Co., Inc. (NYSE:BBY) by 19.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 850 shares of the technology retailer’s stock after selling 200 shares during the quarter. Tompkins Financial Corp’s holdings in Best Buy were worth $88,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. QRG Capital Management Inc. lifted its holdings in Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after purchasing an additional 3,025 shares in the last quarter. GAMMA Investing LLC grew its stake in Best Buy by 78.7% in 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 period. Envestnet Portfolio Solutions Inc. raised its holdings in Best Buy by 11.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,764 shares of the technology retailer’s stock valued at $6,302,000 after acquiring an additional 7,663 shares during the last quarter. M&G Plc purchased a new position in shares of Best Buy during the 1st quarter worth $8,608,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Best Buy by 13.3% in the third 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. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Best Buy stock opened at $89.20 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $96.59 and a 200-day moving average of $87.56. The stock has a market cap of $19.15 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 2.34 and a beta of 1.47. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $103.71.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The business 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 in the prior year, the business posted $1.22 EPS. On average, analysts expect that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 4.22%. Best Buy’s payout ratio is currently 64.83%.

Analyst Upgrades and Downgrades

Several analysts have commented on BBY shares. Wedbush upped their price objective on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. StockNews.com raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Citigroup reduced their target price on Best Buy from $115.00 to $109.00 and set a “buy” rating on the stock in a report on Friday. Telsey Advisory Group raised their price objective on Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company boosted their target price on Best Buy from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.35.

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.