Affinity Investment Advisors LLC lowered its stake in Best Buy Co Inc (NYSE:BBY) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,279 shares of the technology retailer’s stock after selling 8,562 shares during the period. Best Buy accounts for 1.9% of Affinity Investment Advisors LLC’s portfolio, making the stock its 12th largest position. Affinity Investment Advisors LLC’s holdings in Best Buy were worth $16,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Best Buy by 27.5% in the third quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock valued at $228,696,000 after acquiring an additional 866,787 shares during the last quarter. APG Asset Management N.V. boosted its stake in Best Buy by 27.6% in the third quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock valued at $190,263,000 after acquiring an additional 723,500 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Best Buy by 6,630.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 645,175 shares of the technology retailer’s stock valued at $44,175,000 after acquiring an additional 635,589 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Best Buy by 415.8% in the fourth quarter. Teacher Retirement System of Texas now owns 785,272 shares of the technology retailer’s stock valued at $53,768,000 after acquiring an additional 633,034 shares during the last quarter. Finally, 1060 Capital LLC bought a new position in Best Buy in the third quarter valued at approximately $35,849,000. 88.70% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on BBY. Telsey Advisory Group cut shares of Best Buy from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $62.00 to $81.00 in a research note on Thursday, January 25th. They noted that the move was a valuation call. Barclays raised their price objective on shares of Best Buy from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Loop Capital set a $80.00 price objective on shares of Best Buy and gave the company a “buy” rating in a research note on Tuesday, January 16th. ValuEngine raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “strong-buy” rating and set a $84.00 price target on the stock in a research report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $62.97.

In related news, major shareholder Richard M. Schulze sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total value of $58,800,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shari L. Ballard sold 40,018 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the completion of the sale, the insider now directly owns 99,304 shares in the company, valued at $5,578,898.72. The disclosure for this sale can be found here. Insiders sold a total of 3,134,253 shares of company stock worth $191,063,125 over the last ninety days. 1.21% of the stock is currently owned by insiders.

Best Buy Co Inc (NYSE:BBY) opened at $68.79 on Friday. The firm has a market cap of $20,110.00, a price-to-earnings ratio of 17.42, a PEG ratio of 1.14 and a beta of 1.11. Best Buy Co Inc has a 52-week low of $41.67 and a 52-week high of $78.59. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. research analysts anticipate that Best Buy Co Inc will post 4.04 EPS for the current year.

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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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