Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Fort Sheridan Advisors LLC

Fort Sheridan Advisors LLC trimmed its position in Best Buy Co., Inc. (NYSE:BBY) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,600 shares of the technology retailer’s stock after selling 1,060 shares during the period. Fort Sheridan Advisors LLC’s holdings in Best Buy were worth $309,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Private Advisor Group LLC raised its position in shares of Best Buy by 9.1% in the third quarter. Private Advisor Group LLC now owns 6,359 shares of the technology retailer’s stock valued at $657,000 after buying an additional 530 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Best Buy by 3.3% during 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 acquiring an additional 443 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings 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 acquiring an additional 200 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Best Buy by 13.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,271 shares of the technology retailer’s stock worth $441,000 after purchasing an additional 521 shares in the last quarter. Finally, Cigna Investments Inc. New acquired a new position in shares of Best Buy during the 3rd quarter worth approximately $223,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Trading Up 1.6 %

Shares of NYSE BBY opened at $90.05 on Friday. The stock has a fifty day simple moving average of $86.40 and a 200-day simple moving average of $90.57. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. 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 has a market capitalization of $19.25 billion, a PE ratio of 15.39, a PEG ratio of 2.10 and a beta of 1.43.

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

Insider Buying and Selling at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BBY shares. Guggenheim cut their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Best Buy in a report on Friday. Truist Financial lowered their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley restated an “equal weight” rating on shares of Best Buy in a research report on Friday. Finally, UBS Group reiterated a “buy” rating on shares of Best Buy in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.