National Pension Service Has $33.33 Million Position in Best Buy Co., Inc. (NYSE:BBY)

National Pension Service cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 388,481 shares of the technology retailer’s stock after selling 9,023 shares during the quarter. National Pension Service’s holdings in Best Buy were worth $33,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Best Buy by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after buying an additional 241,988 shares during the period. Geode Capital Management LLC lifted its holdings in Best Buy by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock worth $499,954,000 after buying an additional 120,185 shares during the period. Bank of New York Mellon Corp raised its position in shares of Best Buy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock worth $328,136,000 after acquiring an additional 459,353 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Best Buy by 17.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,606,242 shares of the technology retailer’s stock worth $137,816,000 after acquiring an additional 236,524 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Best Buy by 3.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer’s stock worth $143,396,000 after acquiring an additional 44,693 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’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 transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BBY shares. Loop Capital reissued a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a research report on Wednesday, December 18th. UBS Group reissued a “buy” rating on shares of Best Buy in a research report on Friday. Truist Financial lowered their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley reissued an “equal weight” rating on shares of Best Buy in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Stock Performance

Shares of BBY opened at $90.05 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock has a 50 day moving average price of $86.40 and a two-hundred day moving average price of $90.57. The firm has a market capitalization of $19.25 billion, a P/E ratio of 15.39, a P/E/G ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 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 company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts forecast 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.