New Mexico Educational Retirement Board decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,621 shares of the technology retailer’s stock after selling 2,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Best Buy Co. were worth $1,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independence Advisors LLC bought a new stake in shares of Best Buy Co. during the second quarter valued at approximately $284,000. Huntington National Bank increased its stake 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 valued at $118,000 after buying an additional 318 shares during the last quarter. Exane Derivatives increased its stake in shares of Best Buy Co. by 65.5% in the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after buying an additional 1,010 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Best Buy Co. during the first quarter valued at approximately $134,000. Finally, Heritage Trust Co bought a new stake in shares of Best Buy Co. during the first quarter valued at approximately $137,000. Institutional investors own 94.06% of the company’s stock.

Best Buy Co., Inc. (NYSE:BBY) opened at 60.07 on Friday. The company’s 50-day moving average is $57.16 and its 200-day moving average is $51.33. Best Buy Co., Inc. has a 52-week low of $32.20 and a 52-week high of $62.36. The firm has a market capitalization of $18.32 billion, a PE ratio of 16.16 and a beta of 1.45.

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

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Several analysts recently commented on BBY shares. SunTrust Banks, Inc. set a $70.00 target price on shares of Best Buy Co. and gave the stock a “buy” rating in a report on Saturday, July 22nd. Bank of America Corporation reaffirmed a “buy” rating and set a $68.00 target price (up previously from $58.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Loop Capital reaffirmed a “buy” rating and set a $72.00 target price on shares of Best Buy Co. in a report on Monday, July 10th. Telsey Advisory Group lifted their target price on shares of Best Buy Co. from $53.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Finally, Piper Jaffray Companies set a $70.00 target price on shares of Best Buy Co. and gave the stock a “buy” rating in a report on Monday, June 26th. Four analysts have rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the stock. The stock currently has a consensus 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 that occurred on Tuesday, May 23rd. The shares were 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 directly owns 19,172 shares in the company, valued at $993,493.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Patricia H. Walker sold 9,974 shares of Best Buy Co. stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $59.86, for a total transaction of $597,043.64. Following the sale, the insider now owns 24,122 shares of the company’s stock, valued at $1,443,942.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,917 shares of company stock valued at $7,107,375. 1.21% of the stock is currently 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.

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

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