Best Buy Co., Inc. (NYSE:BBY) was the target of some unusual options trading on Monday. Traders acquired 993 call options on the stock. This is an increase of 163% compared to the typical volume of 378 call options.

In other news, General Counsel Keith J. Nelsen sold 55,153 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $59.01, for a total value of $3,254,578.53. Following the completion of the sale, the general counsel now directly owns 89,306 shares of the company’s stock, valued at $5,269,947.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mathew Watson sold 503 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $59.00, for a total value of $29,677.00. Following the completion of the sale, the vice president now directly owns 15,767 shares of the company’s stock, valued at $930,253. The disclosure for this sale can be found here. Insiders sold 121,917 shares of company stock valued at $7,107,375 over the last three months. Corporate insiders own 0.84% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Bedrijfstakpensioenfonds Voor DE Media PNO bought a new stake in shares of Best Buy Co. during the second quarter worth about $1,534,000. Foster & Motley Inc. bought a new stake in shares of Best Buy Co. during the first quarter worth about $250,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Best Buy Co. by 8.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,302 shares of the technology retailer’s stock worth $2,866,000 after buying an additional 4,732 shares during the period. Geode Capital Management LLC raised its stake in shares of Best Buy Co. by 9.1% in the first quarter. Geode Capital Management LLC now owns 3,494,964 shares of the technology retailer’s stock worth $171,592,000 after buying an additional 292,667 shares during the period. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Best Buy Co. by 7.2% in the first quarter. Xact Kapitalforvaltning AB now owns 49,669 shares of the technology retailer’s stock worth $2,441,000 after buying an additional 3,342 shares during the period. 94.06% of the stock is currently owned by institutional investors.

Shares of Best Buy Co. (NYSE BBY) opened at 61.07 on Thursday. The firm has a 50-day moving average price of $56.38 and a 200 day moving average price of $50.73. Best Buy Co. has a 12-month low of $32.20 and a 12-month high of $61.95. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 16.43 and a beta of 1.45.

Best Buy Co. (NYSE:BBY) last announced its earnings results on Thursday, May 25th. The technology retailer reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.20. The company had revenue of $8.53 billion for the quarter, compared to analyst estimates of $8.28 billion. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. Best Buy Co.’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. On average, equities research analysts anticipate that Best Buy Co. will post $3.89 earnings per share for the current fiscal year.

BBY has been the subject of several research analyst reports. Loop Capital reissued a “buy” rating and issued a $72.00 price objective (up from $64.00) on shares of Best Buy Co. in a report on Monday, June 5th. Morgan Stanley raised Best Buy Co. from an “equal weight” rating to a “buy” rating and increased their price objective for the company from $43.00 to $60.00 in a report on Tuesday, May 30th. Deutsche Bank AG raised Best Buy Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $60.00 in a report on Tuesday, May 30th. BidaskClub raised Best Buy Co. from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Credit Suisse Group reissued a “buy” rating and issued a $60.00 price objective (up from $47.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. Best Buy Co. presently has a consensus rating of “Buy” and an average price target of $56.76.

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About Best Buy Co.

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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