CIBC Asset Management Inc lessened its holdings in Best Buy Co Inc (NYSE:BBY) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,408 shares of the technology retailer’s stock after selling 2,360 shares during the period. CIBC Asset Management Inc’s holdings in Best Buy were worth $2,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Best Buy by 232.8% in the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock worth $139,000 after purchasing an additional 1,420 shares during the last quarter. Fieldpoint Private Securities LLC bought a new stake in Best Buy in the third quarter worth $139,000. Harbour Capital Advisors LLC bought a new stake in Best Buy in the fourth quarter worth $205,000. Smithfield Trust Co. bought a new stake in Best Buy in the third quarter worth $178,000. Finally, Summit Securities Group LLC bought a new stake in Best Buy in the fourth quarter worth $226,000. Institutional investors own 88.70% of the company’s stock.

Several brokerages recently weighed in on BBY. Oppenheimer restated a “hold” rating on shares of Best Buy in a research report on Thursday, November 16th. Zacks Investment Research cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Barclays boosted their price objective on shares of Best Buy from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Telsey Advisory Group cut shares of Best Buy from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $62.00 to $81.00 in a research report on Thursday, January 25th. They noted that the move was a valuation call. Finally, Loop Capital set a $72.00 price objective on shares of Best Buy and gave the company a “buy” rating in a research report on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Best Buy presently has an average rating of “Hold” and an average target price of $62.97.

In other news, General Counsel Keith J. Nelsen sold 44,235 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $56.78, for a total transaction of $2,511,663.30. Following the completion of the sale, the general counsel now directly owns 107,503 shares of the company’s stock, valued at $6,104,020.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the insider now directly owns 99,304 shares of the company’s stock, valued at $5,578,898.72. The disclosure for this sale can be found here. Insiders have sold 3,134,253 shares of company stock valued at $191,063,125 over the last three months. Insiders own 1.21% of the company’s stock.

Shares of Best Buy Co Inc (NYSE BBY) opened at $70.76 on Friday. The stock has a market cap of $20,690.00, a price-to-earnings ratio of 17.91, a PEG ratio of 1.15 and a beta of 1.11. Best Buy Co Inc has a one year low of $41.67 and a one year high of $78.59. 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 (NYSE:BBY) last issued its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.78. The firm had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. sell-side analysts predict that Best Buy Co Inc will post 4.04 EPS for the current fiscal 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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