Axa S.A. Has $748,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Posted by Defense World Staff on Mar 1st, 2023

Axa S.A. boosted its position in Best Buy Co., Inc. (NYSE:BBY – Get Rating) by 173.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,810 shares of the technology retailer’s stock after buying an additional 7,496 shares during the quarter. Axa S.A.’s holdings in Best Buy were worth $748,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Best Buy by 1,434.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,845,844 shares of the technology retailer’s stock worth $315,901,000 after purchasing an additional 4,530,018 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Best Buy during the 2nd quarter worth approximately $116,725,000. Ceredex Value Advisors LLC acquired a new position in shares of Best Buy during the 3rd quarter worth approximately $92,076,000. Capital World Investors bought a new stake in Best Buy in the 1st quarter valued at $99,081,000. Finally, National Bank of Canada FI boosted its stake in Best Buy by 6,622.8% in the 3rd quarter. National Bank of Canada FI now owns 708,251 shares of the technology retailer’s stock valued at $44,860,000 after purchasing an additional 697,716 shares during the period. Institutional investors and hedge funds own 78.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Best Buy from $85.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, November 18th. Credit Suisse Group assumed coverage on Best Buy in a research report on Monday, December 19th. They set a “neutral” rating and a $90.00 target price for the company. Barclays assumed coverage on Best Buy in a research report on Tuesday, February 7th. They set an “equal weight” rating and a $88.00 price objective for the company. Wedbush upped their price objective on Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 23rd. Finally, Bank of America downgraded Best Buy from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $69.00 in a research report on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $81.94.

Insider Activity at Best Buy

In other Best Buy news, EVP Damien Harmon sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $79.99, for a total transaction of $199,975.00. Following the transaction, the executive vice president now owns 42,805 shares in the company, valued at approximately $3,423,971.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.44% of the stock is owned by company insiders.

Best Buy Stock Up 0.6 %

BBY opened at $83.11 on Wednesday. The company has a market cap of $18.39 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.69 and a beta of 1.49. The business’s 50-day moving average price is $84.43 and its 200-day moving average price is $77.11. The company has a current ratio of 0.98, a quick ratio of 0.26 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12 month low of $60.78 and a 12 month high of $112.96.

Best Buy Profile

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Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment includes operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.