Pettyjohn Wood & White Inc. Purchases 325 Shares of Best Buy Co., Inc. (NYSE:BBY)

Pettyjohn Wood & White Inc. boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,342 shares of the technology retailer’s stock after purchasing an additional 325 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Best Buy were worth $544,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. increased its stake in shares of Best Buy by 16.1% in the 4th quarter. QRG Capital Management Inc. now owns 36,858 shares of the technology retailer’s stock valued at $3,162,000 after buying an additional 5,113 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Best Buy during the fourth quarter worth $4,903,000. Oppenheimer Asset Management Inc. raised its stake in shares of Best Buy by 2.1% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 23,565 shares of the technology retailer’s stock valued at $2,022,000 after purchasing an additional 482 shares during the period. Mn Services Vermogensbeheer B.V. grew its stake in shares of Best Buy by 2.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 75,925 shares of the technology retailer’s stock worth $6,514,000 after acquiring an additional 1,600 shares in the last quarter. Finally, GenTrust LLC increased its stake in Best Buy by 6.4% in the 4th quarter. GenTrust LLC now owns 3,174 shares of the technology retailer’s stock valued at $275,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BBY shares. Citigroup decreased their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company dropped their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Wednesday, November 27th. StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. upped their price target on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Barclays decreased their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. One equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.72.

Best Buy Trading Down 2.0 %

BBY stock opened at $88.61 on Friday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $86.31 and its two-hundred day simple moving average is $90.50. 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 $18.95 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

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

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

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.