Traders purchased shares of Best Buy Co., Inc. (NYSE:BBY) on weakness during trading on Thursday after an insider sold shares in the company. $54.73 million flowed into the stock on the tick-up and $31.52 million flowed out of the stock on the tick-down, for a money net flow of $23.21 million into the stock. Of all companies tracked, Best Buy Co. had the 20th highest net in-flow for the day. Best Buy Co. traded down ($0.93) for the day and closed at $56.55Specifically, insider Asheesh Saksena sold 22,255 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $55.66, for a total transaction of $1,238,713.30. Following the completion of the transaction, the insider now directly owns 82,440 shares in the company, valued at approximately $4,588,610.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia H. Walker sold 7,447 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $51.02, for a total transaction of $379,945.94. Following the transaction, the insider now owns 34,096 shares of the company’s stock, valued at $1,739,577.92. The disclosure for this sale can be found here. Insiders sold a total of 129,364 shares of company stock valued at $7,487,321 in the last 90 days. Company insiders own 1.21% of the company’s stock.

BBY has been the subject of a number of recent research reports. Piper Jaffray Companies upgraded shares of Best Buy Co. from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $44.85 to $55.00 in a report on Monday, March 27th. Vetr downgraded shares of Best Buy Co. from a “hold” rating to a “sell” rating and set a $44.50 price target for the company. in a report on Monday, March 27th. Bank of America Corporation raised shares of Best Buy Co. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $58.00 in a research report on Tuesday, April 25th. Loop Capital reissued a “buy” rating and issued a $58.00 target price on shares of Best Buy Co. in a research report on Tuesday, April 4th. Finally, Deutsche Bank AG raised shares of Best Buy Co. from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Tuesday, April 11th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $55.45.

The company has a 50-day moving average of $55.81 and a 200-day moving average of $48.72. The stock has a market capitalization of $16.85 billion, a price-to-earnings ratio of 15.14 and a beta of 1.44.

Best Buy Co. (NYSE:BBY) last issued its earnings results on Thursday, May 25th. The technology retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.20. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The firm had revenue of $8.53 billion for the quarter, compared to analysts’ expectations of $8.28 billion. During the same quarter last year, the business earned $0.44 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that Best Buy Co., Inc. will post $3.90 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Tuesday, June 13th. Best Buy Co.’s dividend payout ratio (DPR) is currently 36.46%.

A number of institutional investors have recently modified their holdings of BBY. CENTRAL TRUST Co boosted its position in shares of Best Buy Co. by 1.9% in the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock worth $304,000 after buying an additional 100 shares during the period. Eqis Capital Management Inc. boosted its position in shares of Best Buy Co. by 23.6% in the second quarter. Eqis Capital Management Inc. now owns 7,400 shares of the technology retailer’s stock worth $424,000 after buying an additional 1,411 shares during the period. James Investment Research Inc. boosted its position in shares of Best Buy Co. by 32.8% in the second quarter. James Investment Research Inc. now owns 1,002,765 shares of the technology retailer’s stock worth $57,488,000 after buying an additional 247,672 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in shares of Best Buy Co. by 508.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 45,868 shares of the technology retailer’s stock worth $2,630,000 after buying an additional 38,330 shares during the period. Finally, National Pension Service boosted its position in shares of Best Buy Co. by 10.2% in the second quarter. National Pension Service now owns 303,198 shares of the technology retailer’s stock worth $17,361,000 after buying an additional 28,161 shares during the period. Hedge funds and other institutional investors own 93.92% of the company’s stock.

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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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