ZWJ Investment Counsel Inc. reduced its position in Best Buy Co., Inc. (NYSE:BBY) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,747 shares of the technology retailer’s stock after selling 154 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Best Buy Co. were worth $272,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. raised its position in Best Buy Co. by 106.7% in the fourth quarter. Macquarie Group Ltd. now owns 18,600 shares of the technology retailer’s stock worth $793,000 after buying an additional 9,600 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Best Buy Co. by 60.1% in the first quarter. Nisa Investment Advisors LLC now owns 105,454 shares of the technology retailer’s stock worth $5,183,000 after buying an additional 39,569 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in Best Buy Co. by 4.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 6,078 shares of the technology retailer’s stock worth $299,000 after buying an additional 248 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in Best Buy Co. by 20.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 27,343 shares of the technology retailer’s stock worth $1,344,000 after buying an additional 4,558 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Best Buy Co. by 51.2% in the first quarter. Nationwide Fund Advisors now owns 396,960 shares of the technology retailer’s stock worth $19,511,000 after buying an additional 134,488 shares in the last quarter. 92.46% of the stock is currently owned by institutional investors.

Shares of Best Buy Co., Inc. (NYSE:BBY) opened at 59.47 on Monday. The firm has a 50 day moving average price of $57.68 and a 200 day moving average price of $51.89. Best Buy Co., Inc. has a one year low of $32.20 and a one year high of $62.36. The company has a market capitalization of $18.14 billion, a P/E ratio of 16.00 and a beta of 1.45.

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

WARNING: “Best Buy Co., Inc. (BBY) Stake Cut by ZWJ Investment Counsel Inc.” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/21/best-buy-co-inc-bby-stake-cut-by-zwj-investment-counsel-inc.html.

BBY has been the topic of a number of recent analyst reports. Bank of America Corporation raised Best Buy Co. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $58.00 in a research note on Tuesday, April 25th. Loop Capital upgraded Best Buy Co. from a “sell” rating to a “hold” rating and dropped their target price for the stock from $37.00 to $35.00 in a research report on Monday, May 15th. Wedbush restated an “underperform” rating and set a $29.00 target price on shares of Best Buy Co. in a research report on Monday, May 22nd. UBS AG restated a “buy” rating and set a $51.00 target price (up previously from $47.00) on shares of Best Buy Co. in a research report on Wednesday, May 24th. Finally, Jefferies Group LLC boosted their target price on Best Buy Co. from $43.00 to $51.00 and gave the stock a “hold – buy” rating in a research report on Thursday, May 25th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nineteen have given a buy rating to the company. Best Buy Co. has an average rating of “Buy” and a consensus price target of $56.76.

In other Best Buy Co. news, insider Asheesh Saksena sold 22,255 shares of Best Buy Co. stock in a transaction dated Friday, June 16th. The stock was 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 owns 82,440 shares in the company, valued at approximately $4,588,610.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mathew Watson sold 503 shares of Best Buy Co. stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $59.00, for a total value of $29,677.00. Following the transaction, the vice president now owns 15,767 shares of the company’s stock, valued at approximately $930,253. The disclosure for this sale can be found here. Insiders have sold a total of 121,917 shares of company stock valued at $7,107,375 in the last quarter. Company insiders own 0.84% of the company’s stock.

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.

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY).

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

Receive News & Stock Ratings for Best Buy Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. Inc. and related stocks with our FREE daily email newsletter.