Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its holdings in Best Buy Co., Inc. (NYSE:BBY) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,358 shares of the technology retailer’s stock after selling 2,957 shares during the period. Impax Asset Management Group plc’s holdings in Best Buy were worth $7,581,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Best Buy in the 4th quarter worth about $32,000. Trust Co. of Vermont boosted its position in Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after purchasing an additional 384 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Best Buy during the 3rd quarter valued at approximately $40,000. LRI Investments LLC boosted its position in Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after purchasing an additional 335 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Best Buy during the 3rd quarter worth $44,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.59% of the stock is currently owned by insiders.

Best Buy Price Performance

Best Buy stock opened at $88.69 on Tuesday. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. The company’s 50 day moving average price is $86.10 and its two-hundred day moving average price is $90.47. 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 stock has a market cap of $18.96 billion, a P/E ratio of 15.16, a P/E/G ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barclays dropped their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Wells Fargo & Company lowered their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 27th. Finally, Citigroup decreased their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $101.72.

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.