James Investment Research Inc. lowered its holdings in Best Buy Co Inc (NYSE:BBY) by 38.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 368,588 shares of the technology retailer’s stock after selling 227,570 shares during the quarter. Best Buy accounts for about 1.2% of James Investment Research Inc.’s holdings, making the stock its 13th biggest position. James Investment Research Inc. owned about 0.14% of Best Buy worth $19,520,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group raised its holdings in shares of Best Buy by 1.1% in the second quarter. Schroder Investment Management Group now owns 65,132 shares of the technology retailer’s stock valued at $4,884,000 after buying an additional 725 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Best Buy by 6.4% in the second quarter. Advisors Asset Management Inc. now owns 50,371 shares of the technology retailer’s stock valued at $3,757,000 after purchasing an additional 3,017 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Best Buy during the second quarter worth $7,796,000. Barometer Capital Management Inc. bought a new position in Best Buy during the third quarter valued at about $10,872,000. Finally, Jaffetilchin Investment Partners LLC increased its stake in Best Buy by 37.2% during the third quarter. Jaffetilchin Investment Partners LLC now owns 14,352 shares of the technology retailer’s stock valued at $1,139,000 after acquiring an additional 3,895 shares during the period. Institutional investors and hedge funds own 86.73% of the company’s stock.
Shares of BBY opened at $59.49 on Thursday. The firm has a market capitalization of $16.19 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.98 and a beta of 0.94. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.28 and a current ratio of 1.10. Best Buy Co Inc has a 1 year low of $47.72 and a 1 year high of $84.37.
Several research analysts recently commented on BBY shares. Zacks Investment Research cut Best Buy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. Telsey Advisory Group restated a “hold” rating on shares of Best Buy in a research report on Wednesday, November 21st. Bank of America lowered shares of Best Buy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $70.00 in a research report on Tuesday, November 13th. Raymond James cut their price target on shares of Best Buy from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, November 21st. Finally, Deutsche Bank set a $72.00 price objective on shares of Best Buy and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $75.81.
About Best Buy
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.
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