Private Capital Group LLC Purchases 613 Shares of Best Buy Co Inc (BBY)

Private Capital Group LLC lifted its stake in Best Buy Co Inc (NYSE:BBY) by 23.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,185 shares of the technology retailer’s stock after buying an additional 613 shares during the period. Private Capital Group LLC’s holdings in Best Buy were worth $169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Contravisory Investment Management Inc. grew its position in shares of Best Buy by 5.1% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,718 shares of the technology retailer’s stock valued at $303,000 after buying an additional 278 shares during the last quarter. Paradigm Asset Management Co. LLC grew its position in Best Buy by 3.7% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 9,850 shares of the technology retailer’s stock worth $782,000 after purchasing an additional 350 shares during the last quarter. Sumitomo Life Insurance Co. grew its position in Best Buy by 2.1% during the 4th quarter. Sumitomo Life Insurance Co. now owns 24,653 shares of the technology retailer’s stock worth $1,306,000 after purchasing an additional 507 shares during the last quarter. CENTRAL TRUST Co grew its position in Best Buy by 7.4% during the 4th quarter. CENTRAL TRUST Co now owns 8,485 shares of the technology retailer’s stock worth $449,000 after purchasing an additional 585 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Best Buy by 1.1% during the 2nd quarter. Schroder Investment Management Group now owns 65,132 shares of the technology retailer’s stock worth $4,884,000 after purchasing an additional 725 shares during the last quarter. 86.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE BBY opened at $59.49 on Thursday. The company has a quick ratio of 0.28, a current ratio of 1.10 and a debt-to-equity ratio of 0.42. Best Buy Co Inc has a 52 week low of $47.72 and a 52 week high of $84.37. The stock has a market capitalization of $16.19 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.98 and a beta of 0.94.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 20th. The technology retailer reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.08. Best Buy had a net margin of 2.52% and a return on equity of 44.41%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.56 billion. During the same period last year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Best Buy Co Inc will post 5.18 EPS for the current fiscal year.

Several research analysts have issued reports on BBY shares. Bank of America downgraded shares of Best Buy from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $70.00 to $50.00 in a research report on Monday, December 17th. Zacks Investment Research cut shares of Best Buy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Deutsche Bank restated a “buy” rating on shares of Best Buy in a research note on Friday, January 11th. Moffett Nathanson upgraded shares of Best Buy from a “sell” rating to a “neutral” rating in a research note on Wednesday, December 19th. Finally, Jefferies Financial Group set a $70.00 target price on shares of Best Buy and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Two 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 price target of $75.81.

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Best Buy Company Profile

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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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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