First Trust Advisors LP decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 15.8% during the second quarter, Holdings Channel reports. The firm owned 557,411 shares of the technology retailer’s stock after selling 104,967 shares during the period. First Trust Advisors LP’s holdings in Best Buy Co. were worth $31,956,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. Huntington National Bank boosted its stake in 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 period. Tompkins Financial Corp acquired a new stake in Best Buy Co. during the first quarter valued at about $134,000. Advisory Services Network LLC acquired a new stake in Best Buy Co. during the first quarter valued at about $134,000. Heritage Trust Co acquired a new stake in Best Buy Co. during the first quarter valued at about $137,000. Finally, TrimTabs Asset Management LLC boosted its stake in Best Buy Co. by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,819 shares of the technology retailer’s stock valued at $139,000 after buying an additional 1,328 shares during the period. 92.46% of the stock is owned by institutional investors.

Shares of Best Buy Co., Inc. (BBY) opened at 60.71 on Tuesday. The firm’s 50-day moving average price is $57.32 and its 200-day moving average price is $51.54. The stock has a market capitalization of $18.51 billion, a P/E ratio of 16.33 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.

Best Buy Co. (NYSE:BBY) last announced its quarterly 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 return on equity of 26.81% and a net margin of 3.01%. The firm had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.28 billion. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Best Buy Co., Inc. will post $3.89 EPS for the current fiscal year.

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Several equities research analysts have issued reports on the company. Jefferies Group LLC reissued a “buy” rating and set a $60.00 target price on shares of Best Buy Co. in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Best Buy Co. in a research note on Thursday, May 25th. Wedbush reissued an “underperform” rating and set a $29.00 target price on shares of Best Buy Co. in a research note on Monday, May 22nd. Loop Capital reissued a “buy” rating and set a $72.00 target price (up previously from $64.00) on shares of Best Buy Co. in a research note on Monday, June 5th. Finally, Bank of America Corporation raised Best Buy Co. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $58.00 in a research note on Tuesday, April 25th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $56.76.

In related news, VP Mathew Watson sold 758 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $51.82, for a total value of $39,279.56. Following the completion of the sale, the vice president now directly owns 19,172 shares in the company, valued at approximately $993,493.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Asheesh Saksena sold 18,706 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $57.08, for a total value of $1,067,738.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,917 shares of company stock valued at $7,107,375. 0.84% of the stock is owned by insiders.

Best Buy Co. Company Profile

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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