Eqis Capital Management Inc. trimmed its position in shares of Best Buy Co Inc (NYSE:BBY) by 28.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,106 shares of the technology retailer’s stock after selling 1,665 shares during the quarter. Eqis Capital Management Inc.’s holdings in Best Buy were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fieldpoint Private Securities LLC bought a new stake in shares of Best Buy during the 3rd quarter worth $139,000. Harbour Capital Advisors LLC bought a new stake in Best Buy in the 4th quarter valued at about $205,000. Smithfield Trust Co. bought a new stake in Best Buy in the 3rd quarter valued at about $178,000. Dalton Greiner Hartman Maher & Co. bought a new stake in Best Buy in the 4th quarter valued at about $231,000. Finally, Catawba Capital Management VA bought a new stake in Best Buy in the 4th quarter valued at about $242,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Best Buy Co Inc (NYSE:BBY) traded up $1.97 during trading on Friday, hitting $70.76. The company had a trading volume of 3,390,148 shares, compared to its average volume of 3,285,044. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. The company has a market capitalization of $20,685.06, a P/E ratio of 17.87, a PEG ratio of 1.14 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.
Best Buy (NYSE:BBY) last announced its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. equities analysts predict that Best Buy Co Inc will post 4.04 EPS for the current year.
In other news, major shareholder Richard M. Schulze sold 1,000,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was 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 is available through this link. Also, major shareholder Richard M. Schulze sold 250,000 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.83, for a total value of $16,707,500.00. Following the completion of the sale, the insider now directly owns 1,732,500 shares in the company, valued at $115,782,975. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,134,253 shares of company stock valued at $191,063,125. 1.21% of the stock is owned by corporate insiders.
A number of equities research analysts recently issued reports on the company. Loop Capital set a $80.00 price objective on Best Buy and gave the company a “buy” rating in a research note on Tuesday, January 16th. Moffett Nathanson assumed coverage on Best Buy in a research note on Monday, December 4th. They issued a “sell” rating on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Best Buy in a report on Thursday, November 16th. Wedbush set a $38.00 target price on Best Buy and gave the company a “sell” rating in a report on Monday, January 8th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Best Buy in a report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.97.
About Best Buy
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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