Plato Investment Management Ltd Purchases 939 Shares of Best Buy Co., Inc. (NYSE:BBY)

Plato Investment Management Ltd grew its position in Best Buy Co., Inc. (NYSE:BBY) by 10.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,738 shares of the technology retailer’s stock after buying an additional 939 shares during the period. Plato Investment Management Ltd’s holdings in Best Buy were worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 raised its position in shares of Best Buy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock valued at $499,954,000 after buying an additional 120,185 shares in the last quarter. 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 valued at $328,136,000 after buying 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 valued at $137,816,000 after buying an additional 236,524 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Best Buy by 3.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer’s stock valued at $143,396,000 after purchasing an additional 44,693 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BBY shares. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Best Buy in a report on Friday. Guggenheim decreased their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $110.00 price target on shares of Best Buy in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and an average price target of $101.44.

Best Buy Trading Down 3.5 %

NYSE:BBY opened at $86.73 on Tuesday. The firm’s fifty day moving average is $86.43 and its 200-day moving average is $90.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. The firm has a market cap of $18.54 billion, a P/E ratio of 14.83, a P/E/G ratio of 2.10 and a beta of 1.43.

Insider Activity

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.59% of the company’s stock.

Best Buy 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.