Pettyjohn Wood & White Inc. Acquires 325 Shares of Best Buy Co., Inc. (NYSE:BBY)

Pettyjohn Wood & White Inc. raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,342 shares of the technology retailer’s stock after buying an additional 325 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Best Buy were worth $544,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake 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 acquiring an additional 241,988 shares during the last quarter. Geode Capital Management LLC raised its holdings in Best Buy by 2.5% during 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 during the period. Bank of New York Mellon Corp boosted its position in shares of Best Buy by 13.7% during the fourth 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 during the period. Allianz Asset Management GmbH lifted its holdings in Best Buy by 17.3% during 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. raised its holdings in shares of Best Buy by 3.3% in the third quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer’s stock valued at $143,396,000 after acquiring an additional 44,693 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by company insiders.

Best Buy Trading Down 2.0 %

Shares of NYSE BBY opened at $88.61 on Friday. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth 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 stock’s 50 day simple moving average is $86.31 and its 200 day simple moving average is $90.50.

Best Buy (NYSE:BBY) last issued its quarterly 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 company had revenue of $9.45 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BBY. Wells Fargo & Company reduced their price target 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. Barclays lowered their price target on 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 reduced their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. Citigroup decreased their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Loop Capital restated a “buy” rating and set a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.