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

Nwam LLC lowered its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 33.7% in the 4th quarter, HoldingsChannel reports. The firm owned 27,347 shares of the technology retailer’s stock after selling 13,931 shares during the period. Nwam LLC’s holdings in Best Buy were worth $2,346,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BBY. Golden State Wealth Management LLC bought a new position in Best Buy in the fourth quarter worth approximately $32,000. Trust Co. of Vermont boosted its holdings in Best Buy by 1,200.0% in the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Best Buy in the third quarter worth approximately $40,000. LRI Investments LLC boosted its holdings in Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after acquiring an additional 335 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Best Buy in the third quarter worth approximately $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $88.61 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a market capitalization 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. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS 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 for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period in the previous year, the business posted $1.29 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly 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 filing with the SEC, which is available through this link. Company insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on BBY shares. Guggenheim cut 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. Wells Fargo & Company cut their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Truist Financial dropped their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Finally, Loop Capital restated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.72.

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.