Investors Sell Shares of Best Buy Co., Inc. (BBY) on Strength (BBY)

Traders sold shares of Best Buy Co., Inc. (NYSE:BBY) on strength during trading on Tuesday. $28.92 million flowed into the stock on the tick-up and $55.20 million flowed out of the stock on the tick-down, for a money net flow of $26.28 million out of the stock. Of all stocks tracked, Best Buy Co. had the 0th highest net out-flow for the day. Best Buy Co. traded up $0.23 for the day and closed at $57.20

Several research firms recently commented on BBY. Zacks Investment Research raised Best Buy Co. from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Group LLC reissued a “hold” rating and issued a $60.00 price objective on shares of Best Buy Co. in a research note on Monday. They noted that the move was a valuation call. Wedbush set a $33.00 price objective on Best Buy Co. and gave the company a “sell” rating in a research note on Monday. KeyCorp restated a “hold” rating on shares of Best Buy Co. in a report on Friday, November 10th. Finally, Loop Capital set a $72.00 target price on Best Buy Co. and gave the company a “buy” rating in a report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $58.97.

The company has a market capitalization of $17,044.55, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.15 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.69 and a current ratio of 1.42.

Best Buy Co. (NYSE:BBY) last announced its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the business posted $0.57 EPS. Best Buy Co.’s revenue for the quarter was up 4.8% on a year-over-year basis. research analysts anticipate that Best Buy Co., Inc. will post 4.06 earnings per share for the current fiscal year.

In other Best Buy Co. news, insider Kathleen Scarlett sold 10,797 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total value of $566,734.53. Following the sale, the insider now owns 25,690 shares of the company’s stock, valued at approximately $1,348,468.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Corie S. Barry sold 787 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $47,157.04. Following the completion of the sale, the chief financial officer now directly owns 54,159 shares in the company, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. Insiders have sold a total of 166,259 shares of company stock valued at $9,182,693 over the last 90 days. 0.84% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of BBY. Renaissance Technologies LLC raised its position in Best Buy Co. by 762.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock valued at $202,312,000 after purchasing an additional 3,119,700 shares in the last quarter. Bank of New York Mellon Corp raised its position in Best Buy Co. by 27.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock valued at $228,696,000 after purchasing an additional 866,787 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Best Buy Co. by 125.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock valued at $79,563,000 after purchasing an additional 772,200 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Best Buy Co. by 27.6% during the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after acquiring an additional 723,500 shares in the last quarter. Finally, 1060 Capital LLC acquired a new stake in shares of Best Buy Co. during the 3rd quarter worth about $35,849,000. 87.52% of the stock is currently owned by institutional investors.

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Best Buy Co. 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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