Andra AP fonden decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 33.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,200 shares of the technology retailer’s stock after selling 45,100 shares during the period. Andra AP fonden’s holdings in Best Buy Co. were worth $5,228,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of Best Buy Co. by 106.7% in the fourth quarter. Macquarie Group Ltd. now owns 18,600 shares of the technology retailer’s stock valued at $793,000 after buying an additional 9,600 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of 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 valued at $1,344,000 after buying an additional 4,558 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Best Buy Co. by 2.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,538 shares of the technology retailer’s stock valued at $346,000 after buying an additional 175 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Best Buy Co. by 6.5% in the first quarter. ProShare Advisors LLC now owns 67,704 shares of the technology retailer’s stock valued at $3,328,000 after buying an additional 4,157 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Best Buy Co. by 418.5% in the first quarter. Acadian Asset Management LLC now owns 23,249 shares of the technology retailer’s stock valued at $1,144,000 after buying an additional 18,765 shares in the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

Best Buy Co., Inc. (BBY) opened at 62.47 on Tuesday. Best Buy Co., Inc. has a 12-month low of $36.51 and a 12-month high of $63.32. The company’s 50 day moving average is $58.19 and its 200 day moving average is $52.51. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 16.81 and a beta of 1.45.

Best Buy Co. (NYSE:BBY) last posted its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, equities analysts anticipate that Best Buy Co., Inc. will post $3.90 earnings per share for the current year.

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Several research analysts recently issued reports on BBY shares. Loop Capital upgraded Best Buy Co. from a “sell” rating to a “hold” rating and cut their price objective 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 price objective 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 price objective (up from $47.00) on shares of Best Buy Co. in a research report on Wednesday, May 24th. Jefferies Group LLC lifted their price objective 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. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Best Buy Co. in a research report on Thursday, May 25th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.42.

In other news, insider Shari L. Ballard sold 2,246 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $134,580.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hubert Joly sold 14,734 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $882,861.28. Following the completion of the transaction, the chief executive officer now directly owns 540,694 shares of the company’s stock, valued at approximately $32,398,384.48. The disclosure for this sale can be found here. Insiders sold 117,077 shares of company stock valued at $6,816,671 in the last three months. 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.

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

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