Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Best Buy Co Inc (NYSE:BBY) by 19.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 187,297 shares of the technology retailer’s stock after selling 46,436 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Best Buy worth $13,969,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bristol John W & Co. Inc. NY purchased a new position in shares of Best Buy in the 1st quarter valued at approximately $129,000. Squar Milner Financial Services LLC purchased a new position in shares of Best Buy in the 2nd quarter valued at approximately $201,000. RFG Advisory Group LLC purchased a new position in shares of Best Buy in the 2nd quarter valued at approximately $210,000. Capital Investment Advisors LLC purchased a new position in shares of Best Buy in the 2nd quarter valued at approximately $210,000. Finally, Private Capital Group LLC raised its position in shares of Best Buy by 850.7% in the 1st quarter. Private Capital Group LLC now owns 2,852 shares of the technology retailer’s stock valued at $201,000 after purchasing an additional 2,552 shares during the last quarter. 87.63% of the stock is owned by hedge funds and other institutional investors.

Best Buy opened at $78.71 on Friday, according to Marketbeat. Best Buy Co Inc has a 12-month low of $51.61 and a 12-month high of $79.90. The company has a quick ratio of 0.56, a current ratio of 1.27 and a debt-to-equity ratio of 0.23. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, May 24th. The technology retailer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.75 billion. Best Buy had a net margin of 2.39% and a return on equity of 36.16%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. analysts expect that Best Buy Co Inc will post 5.01 EPS for the current year.

Several brokerages recently commented on BBY. ValuEngine lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “strong-buy” rating and set a $88.00 price target for the company in a research report on Tuesday, July 24th. Morgan Stanley reissued a “buy” rating on shares of Best Buy in a research report on Friday, June 8th. Wedbush set a $48.00 price target on shares of Best Buy and gave the stock a “sell” rating in a research report on Sunday, May 27th. Finally, Loop Capital set a $85.00 price target on shares of Best Buy and gave the stock a “buy” rating in a research report on Thursday, May 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $74.33.

In other news, insider Asheesh Saksena sold 18,570 shares of Best Buy stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $73.69, for a total transaction of $1,368,423.30. Following the completion of the transaction, the insider now directly owns 77,478 shares of the company’s stock, valued at approximately $5,709,353.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mathew Watson sold 457 shares of Best Buy stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $72.54, for a total transaction of $33,150.78. Following the transaction, the senior vice president now directly owns 20,241 shares of the company’s stock, valued at $1,468,282.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,145 shares of company stock valued at $1,692,585. Insiders own 0.75% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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

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