Best Buy Co Inc (BBY) Shares Sold by Comerica Bank

Comerica Bank trimmed its stake in Best Buy Co Inc (NYSE:BBY) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,610 shares of the technology retailer’s stock after selling 5,392 shares during the quarter. Comerica Bank’s holdings in Best Buy were worth $4,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Best Buy in the fourth quarter worth approximately $226,000. Engineers Gate Manager LP purchased a new stake in shares of Best Buy in the fourth quarter worth approximately $4,551,000. LSV Asset Management lifted its position in shares of Best Buy by 7.2% in the fourth quarter. LSV Asset Management now owns 2,347,893 shares of the technology retailer’s stock worth $160,760,000 after purchasing an additional 156,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Best Buy by 4.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 225,262 shares of the technology retailer’s stock worth $15,424,000 after purchasing an additional 9,126 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Best Buy by 34.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,628 shares of the technology retailer’s stock worth $317,000 after purchasing an additional 1,180 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

In other Best Buy news, insider Shari L. Ballard sold 40,018 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the transaction, the insider now owns 99,304 shares in the company, valued at $5,578,898.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Keith J. Nelsen sold 44,235 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $56.78, for a total value of $2,511,663.30. Following the transaction, the general counsel now owns 107,503 shares in the company, valued at approximately $6,104,020.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,134,253 shares of company stock worth $191,063,125. Corporate insiders own 1.21% of the company’s stock.

Best Buy Co Inc (NYSE BBY) opened at $72.52 on Thursday. Best Buy Co Inc has a twelve month low of $41.67 and a twelve month high of $78.59. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $20,492.09, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The company had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter last year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. equities research analysts forecast that Best Buy Co Inc will post 4.04 EPS for the current year.

A number of research firms have recently issued reports on BBY. Telsey Advisory Group lowered shares of Best Buy from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $62.00 to $81.00 in a research report on Thursday, January 25th. They noted that the move was a valuation call. Barclays increased their price target on shares of Best Buy from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Loop Capital set a $80.00 price objective on shares of Best Buy and gave the company a “buy” rating in a research report on Tuesday, January 16th. ValuEngine raised shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective on the stock in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.97.

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Best Buy Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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