Moody Aldrich Partners LLC Invests $610,000 in Best Buy Co Inc (NYSE:BBY)

Moody Aldrich Partners LLC bought a new position in Best Buy Co Inc (NYSE:BBY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,989 shares of the technology retailer’s stock, valued at approximately $610,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FinTrust Capital Advisors LLC purchased a new position in shares of Best Buy in the first quarter worth about $28,000. Rockefeller Capital Management L.P. grew its stake in Best Buy by 71.1% during the first quarter. Rockefeller Capital Management L.P. now owns 522 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 217 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in Best Buy during the second quarter valued at approximately $34,000. Verus Capital Partners LLC purchased a new position in Best Buy during the fourth quarter valued at approximately $40,000. Finally, Modus Advisors LLC purchased a new position in Best Buy during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

In other news, major shareholder Richard M. Schulze sold 449,204 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $86.18, for a total value of $38,712,400.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Whitney L. Alexander sold 9,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $98.42, for a total transaction of $885,780.00. The disclosure for this sale can be found here. Insiders sold a total of 1,081,697 shares of company stock worth $90,464,182 over the last ninety days. Insiders own 0.64% of the company’s stock.

Several brokerages recently commented on BBY. Cfra boosted their price objective on shares of Best Buy from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Morgan Stanley raised shares of Best Buy to a “buy” rating and boosted their price objective for the company from $75.00 to $85.00 in a research note on Friday, May 22nd. UBS Group boosted their price objective on shares of Best Buy from $74.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Piper Sandler raised shares of Best Buy to a “buy” rating in a research note on Wednesday, July 22nd. Finally, Nomura Securities boosted their price target on shares of Best Buy from $58.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $90.25.

NYSE BBY traded down $0.44 during trading on Friday, hitting $99.59. The company had a trading volume of 1,887,654 shares, compared to its average volume of 2,167,535. The company has a current ratio of 1.02, a quick ratio of 0.57 and a debt-to-equity ratio of 0.18. Best Buy Co Inc has a one year low of $48.10 and a one year high of $100.68. The company has a market cap of $25.64 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.19 and a beta of 1.48. The company’s fifty day moving average is $87.12 and its 200-day moving average is $79.02.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 21st. The technology retailer reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.26. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.26 billion. Best Buy had a net margin of 3.33% and a return on equity of 45.89%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 EPS. As a group, equities analysts anticipate that Best Buy Co Inc will post 5.57 EPS for the current year.

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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and 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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