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

Todd Asset Management LLC lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 241,054 shares of the technology retailer’s stock after selling 30,256 shares during the quarter. Todd Asset Management LLC owned approximately 0.11% of Best Buy worth $20,682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in Best Buy during the third quarter worth approximately $278,000. Private Advisor Group LLC lifted its holdings in Best Buy by 9.1% during the 3rd quarter. Private Advisor Group LLC now owns 6,359 shares of the technology retailer’s stock worth $657,000 after purchasing an additional 530 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Best Buy by 3.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 13,913 shares of the technology retailer’s stock valued at $1,437,000 after purchasing an additional 443 shares during the period. Louisiana State Employees Retirement System boosted its stake in Best Buy by 1.8% in the 3rd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the technology retailer’s stock valued at $1,147,000 after purchasing an additional 200 shares during the period. Finally, Arkadios Wealth Advisors grew its holdings in Best Buy by 95.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 6,681 shares of the technology retailer’s stock valued at $690,000 after buying an additional 3,268 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BBY shares. Barclays reduced their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Guggenheim decreased their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Citigroup cut their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Truist Financial dropped their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Stock Performance

Shares of BBY stock opened at $88.69 on Tuesday. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.10 and a beta of 1.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $86.10 and its 200-day moving average price is $90.47. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71.

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

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.