Investors Sell Shares of Best Buy (BBY) on Strength (BBY)

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Investors sold shares of Best Buy Co Inc (NYSE:BBY) on strength during trading on Thursday. $31.06 million flowed into the stock on the tick-up and $64.23 million flowed out of the stock on the tick-down, for a money net flow of $33.17 million out of the stock. Of all equities tracked, Best Buy had the 0th highest net out-flow for the day. Best Buy traded up $0.42 for the day and closed at $73.23

A number of equities research analysts have issued reports on BBY shares. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Monday, July 16th. ValuEngine raised shares of Best Buy from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Jefferies Financial Group began coverage on shares of Best Buy in a report on Tuesday, August 21st. They set a “hold” rating and a $79.00 target price on the stock. Wedbush set a $65.00 price target on shares of Best Buy and gave the company a “sell” rating in a research report on Thursday, August 23rd. Finally, Wells Fargo & Co restated a “hold” rating and set a $78.00 price target on shares of Best Buy in a research report on Tuesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $80.63.

The stock has a market cap of $19.99 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.52 and a debt-to-equity ratio of 0.25.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 28th. The technology retailer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $9.38 billion during the quarter, compared to analyst estimates of $9.25 billion. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. As a group, analysts forecast that Best Buy Co Inc will post 5.11 EPS for the current year.

In related news, insider Patricia H. Walker sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $77.66, for a total value of $388,300.00. Following the completion of the transaction, the insider now directly owns 21,698 shares in the company, valued at $1,685,066.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Corie S. Barry sold 6,783 shares of the company’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $72.80, for a total transaction of $493,802.40. Following the completion of the transaction, the chief financial officer now owns 80,961 shares of the company’s stock, valued at $5,893,960.80. The disclosure for this sale can be found here. Insiders sold 76,711 shares of company stock valued at $6,081,426 over the last quarter. 0.75% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. NuWave Investment Management LLC grew its position in Best Buy by 7,828.4% in the third quarter. NuWave Investment Management LLC now owns 5,312 shares of the technology retailer’s stock worth $421,000 after acquiring an additional 5,245 shares in the last quarter. Andesa Financial Management Inc. purchased a new position in Best Buy in the second quarter worth $424,000. Sawtooth Solutions LLC purchased a new position in Best Buy in the third quarter worth $267,000. Schroder Investment Management Group grew its position in Best Buy by 1.1% in the second quarter. Schroder Investment Management Group now owns 65,132 shares of the technology retailer’s stock worth $4,884,000 after acquiring an additional 725 shares in the last quarter. Finally, Lido Advisors LLC purchased a new position in Best Buy in the second quarter worth $299,000. Institutional investors own 85.32% of the company’s stock.

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Best Buy Company Profile (NYSE:BBY)

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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