Strs Ohio cut its stake in Best Buy Co., Inc. (NYSE:BBY) by 14.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,788 shares of the technology retailer’s stock after selling 7,185 shares during the period. Strs Ohio’s holdings in Best Buy Co. were worth $2,510,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Affinity Investment Advisors LLC acquired a new position in shares of Best Buy Co. during the second quarter worth $2,288,000. First Midwest Bank Trust Division increased its position in shares of Best Buy Co. by 1.0% in the second quarter. First Midwest Bank Trust Division now owns 27,166 shares of the technology retailer’s stock worth $1,557,000 after buying an additional 280 shares in the last quarter. PGGM Investments increased its position in shares of Best Buy Co. by 0.9% in the second quarter. PGGM Investments now owns 175,839 shares of the technology retailer’s stock worth $10,081,000 after buying an additional 1,609 shares in the last quarter. Huntington National Bank increased its position in shares of Best Buy Co. by 18.4% in the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock worth $118,000 after buying an additional 318 shares in the last quarter. Finally, Manning & Napier Advisors LLC increased its position in shares of Best Buy Co. by 46.6% in the second quarter. Manning & Napier Advisors LLC now owns 68,303 shares of the technology retailer’s stock worth $3,915,000 after buying an additional 21,721 shares in the last quarter. Institutional investors and hedge funds own 94.06% of the company’s stock.

Shares of Best Buy Co., Inc. (NYSE:BBY) opened at 61.07 on Thursday. The company has a market capitalization of $18.62 billion, a P/E ratio of 16.43 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. The firm has a 50-day moving average of $56.89 and a 200-day moving average of $51.15. Best Buy Co. also was the recipient of unusually large options trading activity on Monday. Traders acquired 993 call options on the stock. This is an increase of 163% compared to the average volume of 378 call options.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.20. The firm had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.28 billion. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. Analysts forecast that Best Buy Co., Inc. will post $3.89 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This report was first posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this report can be accessed at https://www.watchlistnews.com/best-buy-co-inc-bby-shares-sold-by-strs-ohio/1467034.html.

A number of brokerages have weighed in on BBY. UBS AG reaffirmed a “buy” rating and set a $51.00 target price (up previously from $47.00) on shares of Best Buy Co. in a research note on Wednesday, May 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $60.00 target price on shares of Best Buy Co. in a research note on Wednesday. Deutsche Bank AG reaffirmed a “buy” rating and set a $60.00 target price on shares of Best Buy Co. in a research note on Thursday, August 3rd. BidaskClub raised shares of Best Buy Co. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $56.00 price target (up previously from $49.00) on shares of Best Buy Co. in a research report on Sunday, May 28th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $56.76.

In related news, General Counsel Keith J. Nelsen sold 55,153 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $59.01, for a total transaction of $3,254,578.53. Following the completion of the sale, the general counsel now directly owns 89,306 shares in the company, valued at $5,269,947.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Mathew Watson sold 758 shares of the firm’s 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 sale, the vice president now owns 19,172 shares of the company’s stock, valued at $993,493.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,917 shares of company stock valued at $7,107,375. 1.21% of the stock is owned by company insiders.

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 & 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 companies with Analyst Ratings Network's FREE daily email newsletter.