Fort Sheridan Advisors LLC Decreases Stake in Best Buy Co., Inc. (NYSE:BBY)

Fort Sheridan Advisors LLC cut its position in Best Buy Co., Inc. (NYSE:BBY) by 22.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,600 shares of the technology retailer’s stock after selling 1,060 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Best Buy were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. raised its position in shares of Best Buy by 16.1% during the 4th quarter. QRG Capital Management Inc. now owns 36,858 shares of the technology retailer’s stock worth $3,162,000 after acquiring an additional 5,113 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Best Buy during the fourth quarter worth approximately $4,903,000. Oppenheimer Asset Management Inc. lifted its position in shares of Best Buy by 2.1% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 23,565 shares of the technology retailer’s stock worth $2,022,000 after buying an additional 482 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Best Buy by 2.2% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 75,925 shares of the technology retailer’s stock valued at $6,514,000 after buying an additional 1,600 shares in the last quarter. Finally, GenTrust LLC grew its position in shares of 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. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’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 sale, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research reports. Citigroup reduced their price target 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. JPMorgan Chase & Co. upped their target price on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Best Buy in a research report on Friday. UBS Group reiterated a “buy” rating on shares of Best Buy in a research note on Friday. Finally, Morgan Stanley restated an “equal weight” rating on shares of Best Buy in a research report on Friday. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Stock Performance

NYSE:BBY opened at $90.05 on Friday. 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 company has a market capitalization of $19.25 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The firm has a 50-day moving average price of $86.40 and a two-hundred day moving average price of $90.57. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings data 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 return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period last year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts expect 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.