LS Investment Advisors LLC reduced its stake in shares of Best Buy Co Inc (NYSE:BBY) by 6.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,100 shares of the technology retailer’s stock after selling 830 shares during the period. LS Investment Advisors LLC’s holdings in Best Buy were worth $641,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in BBY. Signet Investment Advisory Group Inc. acquired a new stake in shares of Best Buy in the fourth quarter valued at approximately $31,000. Clean Yield Group acquired a new stake in shares of Best Buy in the fourth quarter valued at approximately $42,000. Huntington National Bank raised its holdings in shares of Best Buy by 22.6% in the fourth 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 acquired a new stake in shares of Best Buy in the fourth quarter valued at approximately $96,000. Finally, People s United Financial Inc. acquired a new stake in shares of Best Buy in the third quarter valued at approximately $222,000. Hedge funds and other institutional investors own 85.33% of the company’s stock.
A number of analysts have recently issued reports on BBY shares. Bank of America downgraded shares of Best Buy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $70.00 to $50.00 in a report on Monday, December 17th. Zacks Investment Research downgraded 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. Finally, Jefferies Financial Group set a $70.00 price objective on shares of Best Buy and gave the company a “hold” rating in a report on Wednesday, November 21st. 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 stock. Best Buy has a consensus rating of “Hold” and an average target price of $75.81.
Shares of BBY opened at $58.95 on Friday. The firm has a market cap of $15.86 billion, a P/E ratio of 13.34, a PEG 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 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 business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.56 billion. Best Buy had a net margin of 2.52% and a return on equity of 44.41%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 earnings per share. On average, analysts predict that Best Buy Co Inc will post 5.18 earnings per share for the current year.
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Best Buy Company Profile
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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