Impax Asset Management Group plc Sells 2,957 Shares of Best Buy Co., Inc. (NYSE:BBY)

Impax Asset Management Group plc decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,358 shares of the technology retailer’s stock after selling 2,957 shares during the period. Impax Asset Management Group plc’s holdings in Best Buy were worth $7,581,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. IFP Advisors Inc raised its position in Best Buy by 5.2% in the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock worth $218,000 after acquiring an additional 125 shares during the period. Rothschild Investment LLC lifted its holdings in shares of Best Buy by 19.7% in the 4th quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after acquiring an additional 142 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Best Buy by 0.5% in the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after acquiring an additional 145 shares during the last quarter. Access Investment Management LLC lifted its holdings in Best Buy by 12.2% during the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock valued at $143,000 after buying an additional 150 shares in the last quarter. Finally, Claro Advisors LLC lifted its holdings in Best Buy by 5.7% during the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after buying an additional 154 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’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 transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BBY shares. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Truist Financial decreased their price objective on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Morgan Stanley decreased their price objective on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Loop Capital reiterated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. Finally, UBS Group reduced 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 report on Wednesday, November 27th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Price Performance

Shares of BBY opened at $88.69 on Tuesday. The stock’s fifty day moving average is $86.10 and its 200-day moving average is $90.47. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate 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 last year, the firm earned $1.29 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy 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.