Private Advisor Group LLC Sells 796 Shares of Best Buy Co., Inc. (NYSE:BBY)

Private Advisor Group LLC reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,563 shares of the technology retailer’s stock after selling 796 shares during the quarter. Private Advisor Group LLC’s holdings in Best Buy were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Yousif Capital Management LLC lifted its holdings in shares of Best Buy by 0.5% during the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after purchasing an additional 145 shares in the last quarter. Access Investment Management LLC lifted its holdings in shares of Best Buy by 12.2% during the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock valued at $143,000 after purchasing an additional 150 shares in the last quarter. Claro Advisors LLC lifted its holdings in shares of Best Buy by 5.7% during the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after purchasing an additional 154 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Best Buy by 14.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,243 shares of the technology retailer’s stock valued at $107,000 after purchasing an additional 155 shares in the last quarter. Finally, Empirical Finance LLC lifted its holdings in shares of Best Buy by 1.2% during the third quarter. Empirical Finance LLC now owns 15,012 shares of the technology retailer’s stock valued at $1,551,000 after purchasing an additional 173 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBY. Barclays lowered their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Truist Financial lowered their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Wedbush reissued a “neutral” rating and issued a $90.00 target price on shares of Best Buy in a report on Monday. Citigroup lowered their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Loop Capital reissued a “buy” rating and issued a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Best Buy Price Performance

Shares of BBY stock opened at $86.73 on Tuesday. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 2.10 and a beta of 1.43. The stock has a fifty day simple moving average of $86.43 and a two-hundred day simple moving average of $90.69. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.59% of the company’s stock.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.