Dumont & Blake Investment Advisors LLC Sells 3,076 Shares of Best Buy Co., Inc. (NYSE:BBY)

Dumont & Blake Investment Advisors LLC decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 50.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,026 shares of the technology retailer’s stock after selling 3,076 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Best Buy were worth $313,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Park Avenue Securities LLC increased its holdings in Best Buy by 7.3% in the 1st quarter. Park Avenue Securities LLC now owns 6,927 shares of the technology retailer’s stock worth $568,000 after acquiring an additional 469 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Best Buy by 5.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,984 shares of the technology retailer’s stock valued at $7,381,000 after purchasing an additional 4,420 shares during the period. Hennessy Advisors Inc. raised its holdings in Best Buy by 23.4% during the first quarter. Hennessy Advisors Inc. now owns 36,900 shares of the technology retailer’s stock valued at $3,027,000 after acquiring an additional 7,000 shares during the period. Kathmere Capital Management LLC lifted its holdings in Best Buy by 25.4% in the 1st quarter. Kathmere Capital Management LLC now owns 7,037 shares of the technology retailer’s stock worth $577,000 after purchasing an additional 1,426 shares in the last quarter. Finally, LVW Advisors LLC boosted its stake in Best Buy by 81.1% in the 1st quarter. LVW Advisors LLC now owns 5,586 shares of the technology retailer’s stock worth $458,000 after purchasing an additional 2,501 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

BBY stock opened at $92.68 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. Best Buy Co., Inc. has a 1-year low of $62.30 and a 1-year high of $103.71. The business has a 50-day moving average price of $96.22 and a 200 day moving average price of $86.56. The company has a market capitalization of $19.99 billion, a P/E ratio of 16.23, a PEG ratio of 2.58 and a beta of 1.46.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company 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 annualized dividend and a yield of 4.06%. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Analysts Set New Price Targets

A number of analysts have issued reports on BBY shares. DA Davidson reiterated a “buy” rating and issued a $117.00 price target on shares of Best Buy in a report on Tuesday, October 15th. Evercore ISI lifted their price target on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research report on Friday, August 30th. BNP Paribas upgraded Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. StockNews.com upgraded Best Buy from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group lifted their price objective on shares of Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.71.

About Best Buy

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.