Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Sabal Trust CO

Sabal Trust CO decreased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 2.8% in the 4th quarter, HoldingsChannel reports. The firm owned 209,720 shares of the technology retailer’s stock after selling 6,041 shares during the quarter. Sabal Trust CO’s holdings in Best Buy were worth $17,994,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in Best Buy by 10.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after purchasing an additional 3,025 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Best Buy by 27.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after acquiring an additional 19,405 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of Best Buy by 48.6% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer’s stock worth $2,265,000 after purchasing an additional 8,640 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Best Buy in the 4th quarter worth approximately $453,000. Finally, Alberta Investment Management Corp lifted its stake in Best Buy by 424.0% during the fourth quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer’s stock valued at $2,248,000 after purchasing an additional 21,200 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 1.5 %

Shares of BBY opened at $90.02 on Wednesday. The business’s 50 day simple moving average is $86.15 and its 200-day simple moving average is $90.52. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The company has a market capitalization of $19.25 billion, a P/E ratio of 15.39, a PEG ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business 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 company posted $1.29 EPS. Best Buy’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Insiders Place Their Bets

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 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 directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BBY shares. Citigroup decreased their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company decreased their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 27th. JPMorgan Chase & Co. upped their price target on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Telsey Advisory Group decreased their price objective on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Finally, Truist Financial dropped their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have given 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.com, Best Buy has an average rating of “Moderate Buy” and a consensus target price of $101.72.

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.