Todd Asset Management LLC Has $20.68 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Todd Asset Management LLC reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 11.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 241,054 shares of the technology retailer’s stock after selling 30,256 shares during the quarter. Todd Asset Management LLC’s holdings in Best Buy were worth $20,682,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Best Buy in the fourth quarter worth approximately $32,000. Trust Co. of Vermont lifted its position in shares of Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after acquiring an additional 384 shares during the period. Harbor Capital Advisors Inc. bought a new position in Best Buy during the third quarter worth $40,000. LRI Investments LLC grew its holdings in Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after purchasing an additional 335 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Best Buy in the third quarter valued at $44,000. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Down 1.2 %

Best Buy stock opened at $88.69 on Tuesday. The firm has a 50 day simple moving average of $86.10 and a 200 day simple moving average of $90.47. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Insider Buying and Selling at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BBY. Wells Fargo & Company reduced their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 27th. Loop Capital restated a “buy” rating and set a $100.00 price objective on shares of Best Buy in a report on Wednesday, December 18th. UBS Group cut their target price on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Barclays lowered their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Finally, Telsey Advisory Group reduced their price objective on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

About Best Buy

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.