OMERS ADMINISTRATION Corp purchased a new position in Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 48,800 shares of the technology retailer’s stock, valued at approximately $2,798,000.

Several other hedge funds have also recently made changes to their positions in BBY. Vanguard Group Inc. increased its stake in shares of Best Buy Co. by 4.0% in the first quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock worth $1,602,962,000 after buying an additional 1,241,888 shares in the last quarter. BlackRock Inc. increased its stake in shares of Best Buy Co. by 1,859.1% in the first quarter. BlackRock Inc. now owns 20,064,628 shares of the technology retailer’s stock worth $986,174,000 after buying an additional 19,040,478 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Best Buy Co. by 6.5% in the first quarter. JPMorgan Chase & Co. now owns 14,724,133 shares of the technology retailer’s stock worth $723,692,000 after buying an additional 898,300 shares in the last quarter. State Street Corp increased its stake in shares of Best Buy Co. by 1.9% in the first quarter. State Street Corp now owns 13,700,994 shares of the technology retailer’s stock worth $673,407,000 after buying an additional 250,469 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Best Buy Co. by 1.3% in the first quarter. American International Group Inc. now owns 10,846,704 shares of the technology retailer’s stock worth $533,116,000 after buying an additional 142,042 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

Shares of Best Buy Co., Inc. (NYSE:BBY) opened at 62.47 on Tuesday. Best Buy Co., Inc. has a one year low of $36.51 and a one year high of $63.32. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 16.81 and a beta of 1.45. The stock has a 50 day moving average of $58.19 and a 200-day moving average of $52.51.

Best Buy Co. (NYSE:BBY) last announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. Best Buy Co.’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $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 fiscal year.

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BBY has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Best Buy Co. from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. SunTrust Banks, Inc. set a $70.00 price target on shares of Best Buy Co. and gave the stock a “buy” rating in a report on Saturday, July 22nd. Bank of America Corporation restated a “buy” rating and set a $68.00 price target (up previously from $58.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Loop Capital restated a “buy” rating and set a $72.00 price target on shares of Best Buy Co. in a report on Monday, July 10th. Finally, Telsey Advisory Group raised their price target 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. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $57.42.

In other news, insider Asheesh Saksena sold 18,706 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mathew Watson sold 503 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $59.00, for a total transaction of $29,677.00. Following the completion of the sale, the vice president now owns 15,767 shares in the company, valued at approximately $930,253. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,077 shares of company stock worth $6,816,671. 0.84% of the stock is currently owned by corporate 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.

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

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