State of Wisconsin Investment Board Has $18.23 Million Stake in Best Buy Co Inc (BBY)

State of Wisconsin Investment Board lifted its position in shares of Best Buy Co Inc (NYSE:BBY) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,296 shares of the technology retailer’s stock after purchasing an additional 1,542 shares during the period. State of Wisconsin Investment Board owned 0.09% of Best Buy worth $18,233,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Dana Investment Advisors Inc. purchased a new stake in shares of Best Buy during the third quarter worth about $9,482,000. Unison Advisors LLC purchased a new stake in shares of Best Buy during the fourth quarter worth about $1,420,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Best Buy by 5.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 48,397 shares of the technology retailer’s stock worth $2,756,000 after purchasing an additional 2,390 shares during the period. Denali Advisors LLC purchased a new stake in shares of Best Buy during the third quarter worth about $740,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Best Buy during the third quarter worth about $298,000. Institutional investors own 83.84% of the company’s stock.

In other news, major shareholder Richard M. Schulze sold 250,000 shares of Best Buy stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.83, for a total transaction of $16,707,500.00. Following the completion of the transaction, the insider now directly owns 1,732,500 shares in the company, valued at $115,782,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Richard M. Schulze sold 935,000 shares of Best Buy stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $60.18, for a total transaction of $56,268,300.00. Following the transaction, the insider now owns 1,732,500 shares of the company’s stock, valued at $104,261,850. The disclosure for this sale can be found here. Insiders have sold 3,050,000 shares of company stock valued at $186,303,250 over the last quarter. Company insiders own 1.21% of the company’s stock.

A number of research firms have recently weighed in on BBY. Citigroup reiterated a “neutral” rating and set a $74.00 target price (up from $69.00) on shares of Best Buy in a report on Friday, February 16th. Zacks Investment Research upgraded shares of Best Buy from a “hold” rating to a “strong-buy” rating and set a $84.00 target price for the company in a report on Friday, February 2nd. ValuEngine upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Barclays raised their price objective on shares of Best Buy from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Finally, Telsey Advisory Group lowered shares of Best Buy from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $62.00 to $81.00 in a report on Thursday, January 25th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.64.

Best Buy Co Inc (NYSE:BBY) opened at $70.79 on Thursday. Best Buy Co Inc has a 1-year low of $41.67 and a 1-year high of $78.59. The stock has a market cap of $21,024.12, a P/E ratio of 17.88, a PEG ratio of 1.16 and a beta of 1.11. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

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About Best Buy

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.

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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