Peloton Wealth Strategists Has $2.92 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Peloton Wealth Strategists lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,050 shares of the technology retailer’s stock after selling 525 shares during the period. Peloton Wealth Strategists’ holdings in Best Buy were worth $2,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of Best Buy by 9.1% in the 3rd 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 during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Best Buy by 3.3% in the 3rd 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 during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Best Buy by 1.8% in the 3rd 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 during the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Best Buy by 13.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,271 shares of the technology retailer’s stock worth $441,000 after acquiring an additional 521 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Best Buy in the 3rd quarter worth about $951,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the topic of a number of analyst reports. Guggenheim lowered their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Citigroup decreased their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Loop Capital reiterated a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a research note on Wednesday, December 18th. UBS Group decreased their price objective 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. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $110.00 price objective on shares of Best Buy in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Best Buy has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Insider Buying and Selling

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 shares were sold at an average price of $87.46, for a total value 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 trade represents a 42.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.59% of the stock is owned by insiders.

Best Buy Stock Down 2.0 %

Best Buy stock opened at $88.61 on Friday. The firm has a 50 day moving average price of $86.31 and a 200-day moving average price of $90.50. The company has a market capitalization of $18.95 billion, a P/E ratio of 15.15, a P/E/G ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

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

About Best Buy

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.