Best Buy Co Inc (NYSE:BBY) Shares Sold by State Treasurer State of Michigan

State Treasurer State of Michigan trimmed its position in shares of Best Buy Co Inc (NYSE:BBY) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 425,904 shares of the technology retailer’s stock after selling 11,900 shares during the quarter. State Treasurer State of Michigan owned 0.16% of Best Buy worth $29,698,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of BBY. Dimensional Fund Advisors LP increased its holdings in shares of Best Buy by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,414,905 shares of the technology retailer’s stock worth $127,879,000 after purchasing an additional 171,050 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Best Buy by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 10,719 shares of the technology retailer’s stock worth $568,000 after purchasing an additional 189 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Best Buy by 7.8% in the 1st quarter. First Hawaiian Bank now owns 6,292 shares of the technology retailer’s stock worth $447,000 after purchasing an additional 454 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in shares of Best Buy by 2.8% in the 1st quarter. Hennessy Advisors Inc. now owns 87,100 shares of the technology retailer’s stock worth $6,189,000 after purchasing an additional 2,400 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Best Buy by 57.3% in the 1st quarter. State of Alaska Department of Revenue now owns 83,805 shares of the technology retailer’s stock worth $5,954,000 after buying an additional 30,535 shares during the last quarter. Institutional investors and hedge funds own 78.48% of the company’s stock.

In other Best Buy news, Director Lisa Caputo sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $75.20, for a total transaction of $188,000.00. Following the completion of the transaction, the director now owns 45,936 shares in the company, valued at $3,454,387.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hubert Joly sold 600,826 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $64.42, for a total value of $38,705,210.92. The disclosure for this sale can be found here. Insiders have sold 1,994,710 shares of company stock worth $140,841,959 over the last three months. 0.95% of the stock is currently owned by insiders.

A number of equities analysts have recently issued reports on BBY shares. ValuEngine downgraded Best Buy from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Jefferies Financial Group upgraded Best Buy from a “hold” rating to a “buy” rating and lifted their target price for the company from $72.00 to $88.00 in a research report on Wednesday, April 24th. Wedbush set a $71.00 price target on Best Buy and gave the company a “hold” rating in a report on Friday, May 24th. Finally, Guggenheim began coverage on Best Buy in a report on Monday, July 8th. They set a “buy” rating and a $80.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $77.67.

Shares of BBY stock traded up $1.30 during trading hours on Tuesday, hitting $67.44. The stock had a trading volume of 189,909 shares, compared to its average volume of 2,487,840. Best Buy Co Inc has a one year low of $47.72 and a one year high of $84.37. The company has a quick ratio of 0.39, a current ratio of 1.12 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $72.15. The stock has a market capitalization of $18.30 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, May 23rd. The technology retailer reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.14. Best Buy had a return on equity of 47.91% and a net margin of 3.54%. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. As a group, analysts forecast that Best Buy Co Inc will post 5.74 EPS for the current year.

Best Buy Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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