Schroder Investment Management Group Decreases Position in Best Buy Co Inc (BBY)

Schroder Investment Management Group cut its position in shares of Best Buy Co Inc (NYSE:BBY) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 692,370 shares of the technology retailer’s stock after selling 30,968 shares during the quarter. Schroder Investment Management Group’s holdings in Best Buy were worth $47,407,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Best Buy by 31.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,279,548 shares of the technology retailer’s stock valued at $361,491,000 after purchasing an additional 1,264,528 shares in the last quarter. State of Wisconsin Investment Board grew its stake in Best Buy by 0.6% in the fourth quarter. State of Wisconsin Investment Board now owns 266,296 shares of the technology retailer’s stock valued at $18,233,000 after purchasing an additional 1,542 shares in the last quarter. Biltmore Wealth Management LLC grew its stake in Best Buy by 80.8% in the fourth quarter. Biltmore Wealth Management LLC now owns 12,962 shares of the technology retailer’s stock valued at $888,000 after purchasing an additional 5,791 shares in the last quarter. Squar Milner Financial Services LLC bought a new position in Best Buy in the fourth quarter valued at approximately $201,000. Finally, First Allied Advisory Services Inc. bought a new position in Best Buy in the fourth quarter valued at approximately $573,000. Institutional investors and hedge funds own 83.84% of the company’s stock.

A number of research analysts have weighed in 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 restated a “buy” rating on shares of Best Buy in a research note on Thursday, November 16th. ValuEngine upgraded Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Oppenheimer restated a “hold” rating on shares of Best Buy in a research note on Thursday, November 16th. Finally, Jefferies Group restated 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 analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Best Buy has an average rating of “Hold” and a consensus price target of $63.64.

Best Buy Co Inc (BBY) opened at $71.92 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. Best Buy Co Inc has a one year low of $41.67 and a one year high of $78.59. The company has a market capitalization of $21,392.45, a P/E ratio of 18.20, a PEG ratio of 1.18 and a beta of 1.11.

In related news, major shareholder Richard M. Schulze sold 935,000 shares of Best Buy stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $60.18, for a total transaction of $56,268,300.00. Following the completion of the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at approximately $104,261,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $58.80, for a total value of $58,800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,050,000 shares of company stock valued at $186,303,250 over the last quarter. 0.84% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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