Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Howard Capital Management Inc.

Howard Capital Management Inc. grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,907 shares of the technology retailer’s stock after acquiring an additional 392 shares during the period. Howard Capital Management Inc.’s holdings in Best Buy were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of BBY. Sequoia Financial Advisors LLC acquired a new position in shares of Best Buy in the third quarter worth $278,000. Private Advisor Group LLC grew its stake 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 worth $657,000 after acquiring an additional 530 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Best Buy by 3.3% in the third quarter. Assenagon Asset Management S.A. now owns 13,913 shares of the technology retailer’s stock worth $1,437,000 after acquiring an additional 443 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Best Buy by 1.8% in the third quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the technology retailer’s stock worth $1,147,000 after acquiring an additional 200 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its stake in shares of Best Buy by 95.8% in the third quarter. Arkadios Wealth Advisors now owns 6,681 shares of the technology retailer’s stock worth $690,000 after acquiring an additional 3,268 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on BBY shares. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. UBS Group lowered their target price on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Truist Financial lowered their target price on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Barclays lowered their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Finally, Loop Capital reiterated a “buy” rating and set a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is currently owned by company insiders.

Best Buy Trading Down 1.2 %

NYSE BBY opened at $88.69 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $86.10 and a 200 day moving average price of $90.47. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The stock has a market capitalization of $18.96 billion, a P/E ratio of 15.16, a P/E/G ratio of 2.13 and a beta of 1.43.

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

Best Buy Company 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.