Nwam LLC Has $2.35 Million Position in Best Buy Co., Inc. (NYSE:BBY)

Nwam LLC cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 33.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,347 shares of the technology retailer’s stock after selling 13,931 shares during the quarter. Nwam LLC’s holdings in Best Buy were worth $2,346,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Best Buy in the 4th quarter valued at $32,000. Trust Co. of Vermont lifted its position in shares of 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 acquiring an additional 384 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy during the 3rd quarter valued at $40,000. LRI Investments LLC lifted its position in shares of 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 acquiring an additional 335 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Best Buy during the 3rd quarter valued at $44,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group cut their target price on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $110.00 target price on shares of Best Buy in a research report on Thursday. Truist Financial dropped their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Citigroup dropped their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Barclays dropped their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Trading Down 2.0 %

Shares of BBY stock opened at $88.61 on Friday. The stock has a market cap of $18.95 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 2.10 and a beta of 1.43. The stock has a 50-day moving average of $86.31 and a 200-day moving average of $90.50. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly 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). The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. On average, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy 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.