Best Buy Co Inc (BBY) Holdings Reduced by Redpoint Investment Management Pty Ltd

Redpoint Investment Management Pty Ltd cut its holdings in shares of Best Buy Co Inc (NYSE:BBY) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,907 shares of the technology retailer’s stock after selling 1,058 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Best Buy were worth $4,391,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Signet Investment Advisory Group Inc. acquired a new position in shares of Best Buy in the 4th quarter worth approximately $31,000. Clean Yield Group acquired a new position in shares of Best Buy during the 4th quarter valued at $42,000. Huntington National Bank lifted its position in shares of Best Buy by 22.6% during the 4th quarter. Huntington National Bank now owns 1,295 shares of the technology retailer’s stock valued at $69,000 after acquiring an additional 239 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Best Buy during the 4th quarter valued at $96,000. Finally, Private Capital Group LLC increased its stake in Best Buy by 23.8% during the 4th quarter. Private Capital Group LLC now owns 3,185 shares of the technology retailer’s stock valued at $169,000 after purchasing an additional 613 shares in the last quarter. Institutional investors and hedge funds own 86.73% of the company’s stock.

NYSE BBY opened at $58.95 on Monday. Best Buy Co Inc has a 1 year low of $47.72 and a 1 year high of $84.37. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.10 and a quick ratio of 0.28. The firm has a market capitalization of $15.86 billion, a PE ratio of 13.34, a PEG ratio of 0.98 and a beta of 0.94.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.08. Best Buy had a net margin of 2.52% and a return on equity of 44.41%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.56 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Best Buy Co Inc will post 5.18 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Best Buy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Deutsche Bank restated a “buy” rating on shares of Best Buy in a research note on Friday, January 11th. Moffett Nathanson upgraded shares of Best Buy from a “sell” rating to a “neutral” rating in a research note on Wednesday, December 19th. Bank of America lowered shares of Best Buy from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $70.00 to $50.00 in a research note on Monday, December 17th. Finally, Loop Capital restated a “buy” rating on shares of Best Buy in a research note on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Best Buy currently has a consensus rating of “Hold” and an average target price of $75.81.

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Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

Further Reading: NASDAQ

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

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