Chicago Equity Partners LLC lowered its position in Best Buy Co Inc (NYSE:BBY) by 21.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,690 shares of the technology retailer’s stock after selling 22,610 shares during the quarter. Chicago Equity Partners LLC’s holdings in Best Buy were worth $4,485,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Signet Investment Advisory Group Inc. purchased a new stake in Best Buy in the 4th quarter valued at $31,000. Clean Yield Group purchased a new stake in Best Buy in the 4th quarter valued at $42,000. Huntington National Bank raised its position in Best Buy by 22.6% in the 4th quarter. Huntington National Bank now owns 1,295 shares of the technology retailer’s stock valued at $69,000 after purchasing an additional 239 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Best Buy in the 4th quarter valued at $96,000. Finally, Private Capital Group LLC raised its position in Best Buy by 23.8% in the 4th quarter. Private Capital Group LLC now owns 3,185 shares of the technology retailer’s stock valued at $169,000 after purchasing an additional 613 shares during the last quarter. Institutional investors own 86.73% of the company’s stock.
Several research firms recently commented on BBY. Credit Suisse Group set a $70.00 price target on shares of Best Buy and gave the company a “hold” rating in a research report on Wednesday, November 21st. Raymond James lowered their price target on shares of Best Buy from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. Piper Jaffray Companies lowered their price target on shares of Best Buy from $87.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. Morgan Stanley lowered their price target on shares of Best Buy from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 23rd. Finally, Deutsche Bank set a $72.00 price target on shares of Best Buy and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Best Buy presently has a consensus rating of “Hold” and a consensus target price of $75.81.
Shares of BBY opened at $58.45 on Tuesday. The stock has a market capitalization of $15.86 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.98 and a beta of 0.94. Best Buy Co Inc has a 1-year low of $47.72 and a 1-year high of $84.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.28 and a current ratio of 1.10.
Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.56 billion. Best Buy had a return on equity of 44.41% and a net margin of 2.52%. Best Buy’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. As a group, equities analysts forecast that Best Buy Co Inc will post 5.18 EPS for the current year.
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About Best Buy
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.
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