Best Buy Co Inc (NYSE:BBY) Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Best Buy Co Inc (NYSE:BBY) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,290 shares of the technology retailer’s stock after purchasing an additional 1,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Best Buy were worth $6,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gradient Investments LLC acquired a new stake in shares of Best Buy during the fourth quarter worth $29,000. TRUE Private Wealth Advisors acquired a new stake in shares of Best Buy during the fourth quarter worth $35,000. Rational Advisors LLC lifted its holdings in shares of Best Buy by 168.3% during the third quarter. Rational Advisors LLC now owns 550 shares of the technology retailer’s stock worth $38,000 after purchasing an additional 345 shares during the period. Citizens Financial Group Inc RI lifted its holdings in shares of Best Buy by 413.7% during the fourth quarter. Citizens Financial Group Inc RI now owns 601 shares of the technology retailer’s stock worth $53,000 after purchasing an additional 484 shares during the period. Finally, Quest Capital Management Inc. ADV acquired a new stake in shares of Best Buy during the third quarter worth $45,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Lisa Caputo sold 10,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $80.86, for a total value of $808,600.00. Following the completion of the transaction, the director now owns 53,480 shares in the company, valued at $4,324,392.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Richard M. Schulze sold 589,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $79.25, for a total value of $46,717,875.00. The disclosure for this sale can be found here. In the last three months, insiders sold 968,500 shares of company stock valued at $77,404,405. 0.95% of the stock is owned by corporate insiders.

BBY has been the subject of several recent research reports. Raymond James reaffirmed a “buy” rating and set a $100.00 price target on shares of Best Buy in a report on Wednesday, November 27th. Oppenheimer reaffirmed a “buy” rating and set a $105.00 price target (up from $86.00) on shares of Best Buy in a report on Friday, February 7th. Morgan Stanley increased their price target on Best Buy from $77.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Barclays raised Best Buy to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a report on Wednesday, November 27th. Finally, Piper Jaffray Companies raised Best Buy to a “buy” rating and increased their price target for the stock from $86.00 to $97.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $86.05.

Best Buy stock opened at $82.18 on Thursday. Best Buy Co Inc has a one year low of $61.58 and a one year high of $91.99. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.27 and a current ratio of 1.05. The business has a fifty day moving average of $88.89 and a two-hundred day moving average of $77.53. The company has a market cap of $21.19 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.12.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 26th. The technology retailer reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. Best Buy had a return on equity of 49.43% and a net margin of 3.54%. The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.71 billion. During the same quarter last year, the company earned $0.93 earnings per share. Best Buy’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Best Buy Co Inc will post 5.94 EPS for the current year.

Best Buy 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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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