FourThought Financial Partners LLC Sells 82,435 Shares of Best Buy Co., Inc. (NYSE:BBY)

FourThought Financial Partners LLC decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 87.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,306 shares of the technology retailer’s stock after selling 82,435 shares during the quarter. FourThought Financial Partners LLC’s holdings in Best Buy were worth $1,056,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Best Buy by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after acquiring an additional 241,988 shares during the period. Geode Capital Management LLC increased its position in shares of Best Buy by 2.5% during the third quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock valued at $499,954,000 after purchasing an additional 120,185 shares during the period. Bank of New York Mellon Corp increased its position in shares of Best Buy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock valued at $328,136,000 after purchasing an additional 459,353 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Best Buy by 17.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,606,242 shares of the technology retailer’s stock valued at $137,816,000 after purchasing an additional 236,524 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Best Buy by 3.3% in the third quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer’s stock worth $143,396,000 after purchasing an additional 44,693 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Up 1.5 %

BBY opened at $90.02 on Wednesday. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The stock has a market capitalization of $19.25 billion, a PE ratio of 15.39, a PEG ratio of 2.10 and a beta of 1.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $86.15 and a two-hundred day moving average price of $90.52.

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

Insider Activity

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of several analyst reports. UBS Group lowered their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company lowered 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 research note on Wednesday, November 27th. Loop Capital restated a “buy” rating and set a $100.00 price target on shares of Best Buy in a research note on Wednesday, December 18th. Morgan Stanley lowered their price objective on 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. Finally, StockNews.com downgraded 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 issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.72.

About Best Buy

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.