Best Buy Co Inc (BBY) Shares Sold by Norinchukin Bank The

Norinchukin Bank The decreased its position in Best Buy Co Inc (NYSE:BBY) by 40.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,333 shares of the technology retailer’s stock after selling 20,877 shares during the period. Norinchukin Bank The’s holdings in Best Buy were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BBY. Denali Advisors LLC purchased a new position in Best Buy in the 3rd quarter worth $740,000. Strs Ohio raised its stake in Best Buy by 4.9% in the 3rd quarter. Strs Ohio now owns 45,954 shares of the technology retailer’s stock worth $2,617,000 after acquiring an additional 2,166 shares during the last quarter. Boston Advisors LLC raised its stake in Best Buy by 38.8% in the 3rd quarter. Boston Advisors LLC now owns 244,147 shares of the technology retailer’s stock worth $13,907,000 after acquiring an additional 68,227 shares during the last quarter. Aperio Group LLC raised its stake in Best Buy by 23.0% in the 3rd quarter. Aperio Group LLC now owns 203,584 shares of the technology retailer’s stock worth $11,596,000 after acquiring an additional 38,101 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Best Buy by 6.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 185,030 shares of the technology retailer’s stock worth $10,539,000 after acquiring an additional 11,400 shares during the last quarter. Institutional investors own 83.84% of the company’s stock.

Best Buy Co Inc (NYSE:BBY) opened at $70.79 on Thursday. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Best Buy Co Inc has a 52 week low of $41.67 and a 52 week high of $78.59. The firm has a market capitalization of $21,024.12, a PE ratio of 17.88, a P/E/G ratio of 1.16 and a beta of 1.11.

In related news, major shareholder Richard M. Schulze sold 50,000 shares of Best Buy stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $61.34, for a total value of $3,067,000.00. Following the completion of the transaction, the insider now owns 1,732,500 shares in the company, valued at approximately $106,271,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total value of $58,800,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,050,000 shares of company stock valued at $186,303,250. 1.21% of the stock is owned by company insiders.

A number of brokerages recently issued reports on BBY. Oppenheimer restated a “hold” rating on shares of Best Buy in a research note on Thursday, November 16th. Barclays lifted their price objective on Best Buy from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Citigroup reiterated a “neutral” rating and set a $74.00 price objective (up previously from $69.00) on shares of Best Buy in a research note on Friday, February 16th. Moffett Nathanson began coverage on Best Buy in a research note on Monday, December 4th. They set a “sell” rating for the company. Finally, Telsey Advisory Group lowered Best Buy from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $62.00 to $81.00 in a research note on Thursday, January 25th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.64.

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About Best Buy

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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

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