Toronto Dominion Bank lifted its stake in Best Buy Co Inc (NYSE:BBY) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,738 shares of the technology retailer’s stock after buying an additional 9,618 shares during the quarter. Toronto Dominion Bank’s holdings in Best Buy were worth $7,581,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of BBY. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Best Buy by 232.8% in the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock worth $139,000 after purchasing an additional 1,420 shares during the period. Fieldpoint Private Securities LLC acquired a new position in Best Buy in the 3rd quarter worth about $139,000. Harbour Capital Advisors LLC acquired a new position in Best Buy in the 4th quarter worth about $205,000. Smithfield Trust Co. acquired a new position in Best Buy in the 3rd quarter worth about $178,000. Finally, Summit Securities Group LLC acquired a new position in Best Buy in the 4th quarter worth about $226,000. Hedge funds and other institutional investors own 83.84% of the company’s stock.
In related news, insider Shari L. Ballard sold 40,018 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $56.18, for a total value of $2,248,211.24. Following the completion of the sale, the insider now owns 99,304 shares of the company’s stock, valued at $5,578,898.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Keith J. Nelsen sold 44,235 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $56.78, for a total value of $2,511,663.30. Following the completion of the sale, the general counsel now directly owns 107,503 shares of the company’s stock, valued at approximately $6,104,020.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,134,253 shares of company stock valued at $191,063,125. Insiders own 0.84% of the company’s stock.
BBY has been the subject of a number of analyst reports. Loop Capital set a $72.00 price target on Best Buy and gave the stock a “buy” rating in a report on Tuesday, October 24th. Zacks Investment Research cut Best Buy from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Wedbush set a $38.00 target price on Best Buy and gave the company a “sell” rating in a report on Monday, January 8th. Moffett Nathanson initiated coverage on Best Buy in a report on Monday, December 4th. They set a “sell” rating for the company. Finally, Barclays increased their target price on Best Buy from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Best Buy presently has an average rating of “Hold” and a consensus price target of $63.64.
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Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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