Plato Investment Management Ltd Has $839,000 Stake in Best Buy Co., Inc. (NYSE:BBY)

Plato Investment Management Ltd increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,738 shares of the technology retailer’s stock after buying an additional 939 shares during the period. Plato Investment Management Ltd’s holdings in Best Buy were worth $839,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in Best Buy in the fourth quarter valued at approximately $183,000. Jones Financial Companies Lllp lifted its holdings in Best Buy by 55.4% in the fourth quarter. Jones Financial Companies Lllp now owns 16,468 shares of the technology retailer’s stock valued at $1,413,000 after buying an additional 5,873 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Best Buy by 24.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,563 shares of the technology retailer’s stock valued at $306,000 after buying an additional 703 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new position in Best Buy in the fourth quarter valued at approximately $329,000. Finally, Bailard Inc. lifted its holdings in Best Buy by 1.4% in the fourth quarter. Bailard Inc. now owns 21,808 shares of the technology retailer’s stock valued at $1,871,000 after buying an additional 304 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Guggenheim cut their price objective 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 cut their target price on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley reiterated an “equal weight” rating on shares of Best Buy in a report on Friday. Finally, Wedbush reiterated a “neutral” rating and issued a $90.00 target price on shares of Best Buy in a report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.59% of the stock is owned by insiders.

Best Buy Trading Down 3.5 %

Shares of NYSE:BBY opened at $86.73 on Tuesday. The firm has a market cap of $18.54 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The company’s fifty day simple moving average is $86.43 and its 200 day simple moving average is $90.69. 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 Company 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.