Y Intercept Hong Kong Ltd Takes Position in Best Buy Co., Inc. (NYSE:BBY)

Y Intercept Hong Kong Ltd purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,286 shares of the technology retailer’s stock, valued at approximately $968,000.

Several other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Best Buy in the fourth quarter valued at about $32,000. Harbor Capital Advisors Inc. acquired a new position in shares of Best Buy during the 3rd quarter worth approximately $40,000. LRI Investments LLC increased its holdings in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after purchasing an additional 335 shares during the period. Trust Co. of Vermont increased its holdings in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after purchasing an additional 384 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Best Buy in the third quarter valued at approximately $44,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the transaction, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on BBY shares. JPMorgan Chase & Co. increased their target price on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley reduced their price objective on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. Loop Capital reaffirmed a “buy” rating and set a $100.00 price target on shares of Best Buy in a report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Price Performance

Shares of BBY opened at $88.61 on Friday. The stock has a market cap of $18.95 billion, a P/E ratio of 15.15, a P/E/G ratio of 2.10 and a beta of 1.43. The business’s fifty day moving average is $86.31 and its 200 day moving average is $90.50. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Company 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.