Squar Milner Financial Services LLC purchased a new stake in Best Buy Co Inc (NYSE:BBY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,627 shares of the technology retailer’s stock, valued at approximately $201,000.
A number of other hedge funds also recently made changes to their positions in the stock. First Allied Advisory Services Inc. acquired a new stake in Best Buy in the 4th quarter valued at $573,000. Toronto Dominion Bank boosted its stake in Best Buy by 9.5% in the 4th quarter. Toronto Dominion Bank now owns 110,738 shares of the technology retailer’s stock valued at $7,581,000 after buying an additional 9,618 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Best Buy by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 301,905 shares of the technology retailer’s stock valued at $20,672,000 after buying an additional 5,026 shares in the last quarter. Bailard Inc. boosted its stake in Best Buy by 39.7% in the 4th quarter. Bailard Inc. now owns 27,365 shares of the technology retailer’s stock valued at $1,874,000 after buying an additional 7,774 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in Best Buy by 1,097.9% in the 4th quarter. Greenleaf Trust now owns 3,354 shares of the technology retailer’s stock valued at $230,000 after buying an additional 3,074 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on BBY shares. Loop Capital set a $72.00 price target on Best Buy and gave the company a “buy” rating in a research note on Tuesday, October 24th. Deutsche Bank reaffirmed a “buy” rating on shares of Best Buy in a research note on Thursday, November 16th. ValuEngine raised Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Best Buy in a research note on Thursday, November 16th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $60.00 price target on shares of Best Buy in a research note on Monday, November 13th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Best Buy presently has a consensus rating of “Hold” and an average target price of $63.64.
Best Buy Co Inc (NYSE BBY) opened at $73.18 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The company has a market capitalization of $21,433.38, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.11. Best Buy Co Inc has a one year low of $41.67 and a one year high of $78.59.
Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. sell-side analysts expect that Best Buy Co Inc will post 4.04 EPS for the current year.
In other news, General Counsel Keith J. Nelsen sold 44,235 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $56.78, for a total transaction of $2,511,663.30. Following the transaction, the general counsel now owns 107,503 shares of the company’s stock, valued at $6,104,020.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shari L. Ballard sold 40,018 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total value of $2,248,211.24. Following the transaction, the insider now directly owns 99,304 shares in the company, valued at approximately $5,578,898.72. The disclosure for this sale can be found here. Insiders have sold 3,134,253 shares of company stock worth $191,063,125 in the last ninety days. 1.21% of the stock is currently owned by insiders.
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Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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