Asahi Life Asset Management CO. LTD. Invests $329,000 in Best Buy Co., Inc. (NYSE:BBY)

Asahi Life Asset Management CO. LTD. bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,830 shares of the technology retailer’s stock, valued at approximately $329,000.

Several other large investors also recently made changes to their positions in BBY. Golden State Wealth Management LLC bought a new stake in shares of Best Buy during the fourth quarter worth $32,000. Trust Co. of Vermont grew its holdings in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after purchasing an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Best Buy during the third quarter worth $40,000. LRI Investments LLC grew its holdings in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after purchasing an additional 335 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Best Buy in the third quarter valued at about $44,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 1.6 %

Shares of Best Buy stock opened at $90.05 on Monday. The business’s 50 day simple moving average is $86.40 and its 200 day simple moving average is $90.67. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The firm has a market cap of $19.25 billion, a PE ratio of 15.39, a P/E/G ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BBY. Wells Fargo & Company reiterated an “equal weight” rating on shares of Best Buy in a report on Friday. Morgan Stanley reiterated an “equal weight” rating on shares of Best Buy in a report on Friday. Truist Financial decreased their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Loop Capital reiterated a “buy” rating and issued a $100.00 price target on shares of Best Buy in a report on Wednesday, December 18th. Finally, Guggenheim decreased their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Best Buy currently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Insider Activity at Best Buy

In other Best Buy 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 value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by insiders.

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.