Wetherby Asset Management Inc. acquired a new stake in shares of Best Buy Co Inc (NYSE:BBY) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,892 shares of the technology retailer’s stock, valued at approximately $266,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fieldpoint Private Securities LLC acquired a new position in Best Buy in the third quarter worth approximately $139,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in Best Buy by 232.8% in the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock worth $139,000 after buying an additional 1,420 shares during the last quarter. Smithfield Trust Co. acquired a new position in Best Buy in the third quarter worth approximately $178,000. Squar Milner Financial Services LLC acquired a new position in Best Buy in the fourth quarter worth approximately $201,000. Finally, Harbour Capital Advisors LLC acquired a new position in Best Buy in the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 83.84% of the company’s stock.
Several research firms have issued reports on BBY. Loop Capital set a $80.00 price target on shares of Best Buy and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Moffett Nathanson began coverage on shares of Best Buy in a research report on Monday, December 4th. They issued a “sell” rating on the stock. Oppenheimer restated a “hold” rating on shares of Best Buy in a research report on Thursday, November 16th. Wedbush set a $38.00 price target on shares of Best Buy and gave the stock a “sell” rating in a research report on Monday, January 8th. Finally, KeyCorp restated a “hold” rating on shares of Best Buy in a research report on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Best Buy presently has a consensus rating of “Hold” and an average price target of $63.64.
Best Buy Co Inc (NYSE:BBY) opened at $71.92 on Wednesday. Best Buy Co Inc has a 52 week low of $41.67 and a 52 week high of $78.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The company has a market cap of $21,392.45, a P/E ratio of 18.20, a P/E/G ratio of 1.18 and a beta of 1.11.
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Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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