US Bancorp DE Buys 38,427 Shares of Best Buy Co., Inc. (NYSE:BBY)

US Bancorp DE lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 246,871 shares of the technology retailer's stock after acquiring an additional 38,427 shares during the quarter. US Bancorp DE owned about 0.12% of Best Buy worth $21,182,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BBY. Golden State Wealth Management LLC acquired a new position in Best Buy during the fourth quarter valued at approximately $32,000. Trust Co. of Vermont grew its position in shares of Best Buy by 1,200.0% in 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 last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Best Buy in the third quarter worth about $40,000. LRI Investments LLC lifted its position in shares of Best Buy by 632.1% during the 3rd 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 acquired a new stake in Best Buy in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company's stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.59% of the company's stock.

Best Buy Price Performance

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BBY shares. Truist Financial cut their price target on Best Buy from $107.00 to $95.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. Wedbush reissued a "neutral" rating and issued a $90.00 price target on shares of Best Buy in a report on Monday. Citigroup dropped their price objective 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. Telsey Advisory Group reissued an "outperform" rating and set a $110.00 target price on shares of Best Buy in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Best Buy from $111.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $101.44.

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.