Best Buy Co Inc (BBY) Shares Sold by Norinchukin Bank The

Norinchukin Bank The lowered its position in Best Buy Co Inc (NYSE:BBY) by 40.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,333 shares of the technology retailer’s stock after selling 20,877 shares during the quarter. Norinchukin Bank The’s holdings in Best Buy were worth $2,145,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. FDx Advisors Inc. grew its stake in Best Buy by 10.0% in the fourth quarter. FDx Advisors Inc. now owns 12,096 shares of the technology retailer’s stock worth $828,000 after purchasing an additional 1,099 shares in the last quarter. ARP Americas LP grew its stake in Best Buy by 66.1% in the fourth quarter. ARP Americas LP now owns 25,161 shares of the technology retailer’s stock worth $1,723,000 after purchasing an additional 10,009 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Best Buy by 23.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,121,494 shares of the technology retailer’s stock worth $145,259,000 after purchasing an additional 397,083 shares in the last quarter. Wetherby Asset Management Inc. bought a new position in Best Buy in the fourth quarter worth approximately $266,000. Finally, Mariner Wealth Advisors LLC bought a new position in Best Buy in the fourth quarter worth approximately $233,000. 83.84% of the stock is currently owned by institutional investors.

Shares of Best Buy Co Inc (NYSE BBY) opened at $70.79 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The firm has a market capitalization of $21,024.12, a price-to-earnings ratio of 17.88, a PEG ratio of 1.16 and a beta of 1.11. Best Buy Co Inc has a 52-week low of $41.67 and a 52-week high of $78.59.

Several research analysts recently issued reports on the company. Telsey Advisory Group cut Best Buy from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $62.00 to $81.00 in a research note on Thursday, January 25th. They noted that the move was a valuation call. Barclays increased their price objective on Best Buy from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Citigroup reissued a “neutral” rating and issued a $74.00 price objective (up previously from $69.00) on shares of Best Buy in a research note on Friday, February 16th. Loop Capital set a $80.00 price objective on Best Buy and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, ValuEngine raised Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Best Buy currently has a consensus rating of “Hold” and an average target price of $63.64.

In other news, major shareholder Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $58.80, for a total value of $58,800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Richard M. Schulze sold 935,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $60.18, for a total value of $56,268,300.00. Following the completion of the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at approximately $104,261,850. The disclosure for this sale can be found here. Insiders sold a total of 3,050,000 shares of company stock valued at $186,303,250 in the last three months. Insiders own 1.21% of the company’s stock.

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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.

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

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