Savant Capital LLC purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,970 shares of the technology retailer’s stock, valued at approximately $228,000.

A number of other hedge funds have also recently added to or reduced their stakes in BBY. Advisors Asset Management Inc. increased its stake in Best Buy Co. by 4.5% in the second quarter. Advisors Asset Management Inc. now owns 89,659 shares of the technology retailer’s stock valued at $5,140,000 after buying an additional 3,862 shares during the period. Biltmore Wealth Management LLC increased its stake in Best Buy Co. by 9.8% in the second quarter. Biltmore Wealth Management LLC now owns 7,362 shares of the technology retailer’s stock valued at $422,000 after buying an additional 658 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Best Buy Co. by 66.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 81,188 shares of the technology retailer’s stock valued at $4,732,000 after buying an additional 32,516 shares during the period. Advisor Partners LLC increased its stake in Best Buy Co. by 9.9% in the second quarter. Advisor Partners LLC now owns 7,518 shares of the technology retailer’s stock valued at $431,000 after buying an additional 678 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in Best Buy Co. during the second quarter valued at about $228,000. Institutional investors and hedge funds own 92.46% of the company’s stock.

Best Buy Co., Inc. (NYSE BBY) opened at 58.97 on Wednesday. The firm has a 50-day moving average price of $57.39 and a 200-day moving average price of $51.66. The firm has a market cap of $17.98 billion, a PE ratio of 15.86 and a beta of 1.45. Best Buy Co., Inc. has a one year low of $32.20 and a one year high of $62.36.

Best Buy Co. (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $8.28 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts expect that Best Buy Co., Inc. will post $3.89 EPS for the current fiscal year.

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Several analysts recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and issued a $60.00 price target on shares of Best Buy Co. in a research note on Wednesday, August 9th. Deutsche Bank AG restated a “buy” rating and issued a $60.00 price target on shares of Best Buy Co. in a research note on Thursday, August 3rd. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price target on shares of Best Buy Co. in a research note on Thursday, August 3rd. BidaskClub upgraded Best Buy Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. set a $70.00 price target on Best Buy Co. and gave the company a “buy” rating in a research note on Saturday, July 22nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $56.76.

In other Best Buy Co. news, VP Mathew Watson sold 758 shares of Best Buy Co. stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $51.82, for a total transaction of $39,279.56. Following the completion of the sale, the vice president now owns 19,172 shares of the company’s stock, valued at $993,493.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Asheesh Saksena sold 18,706 shares of Best Buy Co. stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $57.08, for a total value of $1,067,738.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,917 shares of company stock valued at $7,107,375. Corporate insiders own 0.84% of the company’s stock.

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.

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

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