Exane Asset Management bought a new position in shares of Best Buy Co Inc (NYSE:BBY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,422 shares of the technology retailer’s stock, valued at approximately $75,000.
Several other hedge funds also recently added to or reduced their stakes in BBY. Huntington National Bank boosted its position in Best Buy by 22.6% during the fourth quarter. Huntington National Bank now owns 1,295 shares of the technology retailer’s stock worth $69,000 after acquiring an additional 239 shares during the last quarter. Buckley Wealth Management LLC boosted its holdings in Best Buy by 7.3% in the 4th quarter. Buckley Wealth Management LLC now owns 4,056 shares of the technology retailer’s stock valued at $215,000 after purchasing an additional 276 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in Best Buy by 5.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,718 shares of the technology retailer’s stock valued at $303,000 after purchasing an additional 278 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its holdings in Best Buy by 3.7% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 9,850 shares of the technology retailer’s stock valued at $782,000 after purchasing an additional 350 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its holdings in Best Buy by 2.1% in the 4th quarter. Sumitomo Life Insurance Co. now owns 24,653 shares of the technology retailer’s stock valued at $1,306,000 after purchasing an additional 507 shares during the last quarter. 86.73% of the stock is owned by institutional investors and hedge funds.
Shares of BBY stock opened at $58.45 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.28 and a debt-to-equity ratio of 0.42. Best Buy Co Inc has a one year low of $47.72 and a one year high of $84.37. The company has a market capitalization of $15.86 billion, a PE ratio of 13.22, a P/E/G ratio of 0.98 and a beta of 0.94.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 20th. The technology retailer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.85 by $0.08. Best Buy had a net margin of 2.52% and a return on equity of 44.41%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.56 billion. During the same period in the prior year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts expect that Best Buy Co Inc will post 5.18 earnings per share for the current year.
Several equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Best Buy from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Deutsche Bank reiterated a “buy” rating on shares of Best Buy in a report on Friday, January 11th. Moffett Nathanson upgraded shares of Best Buy from a “sell” rating to a “neutral” rating in a report on Wednesday, December 19th. Bank of America lowered shares of Best Buy from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $70.00 to $50.00 in a report on Monday, December 17th. Finally, Loop Capital reiterated a “buy” rating on shares of Best Buy in a report on Tuesday, November 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $75.81.
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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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