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

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Best Buy in the fourth quarter worth approximately $32,000. Harbor Capital Advisors Inc. bought a new position in Best Buy in the 3rd quarter worth $40,000. LRI Investments LLC lifted its position in Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer's stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. Trust Co. of Vermont grew its holdings in Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock valued at $36,000 after purchasing an additional 384 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Best Buy in the third quarter worth about $44,000. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Trading Down 3.5 %

Shares of NYSE BBY traded down $3.18 during trading hours on Monday, hitting $86.73. 4,055,252 shares of the company traded hands, compared to its average volume of 2,550,721. The company's 50 day moving average price is $86.40 and its 200 day moving average price is $90.67. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

BBY has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Best Buy from $107.00 to $95.00 and set a "hold" rating on the stock in a research 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 research report on Wednesday, December 18th. Citigroup decreased their price objective on shares of Best Buy from $109.00 to $101.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their price target on Best Buy from $111.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. One investment 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's stock. According to MarketBeat.com, Best Buy currently has an average rating of "Moderate Buy" and a consensus target price of $101.44.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is owned by insiders.

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.