Traders sold shares of Best Buy Co. (NYSE:BBY) on strength during trading on Thursday. $16.46 million flowed into the stock on the tick-up and $54.05 million flowed out of the stock on the tick-down, for a money net flow of $37.59 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 $0.36 for the day and closed at $31.76

BBY has been the topic of several research analyst reports. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, May 10th. Vetr cut Best Buy from a “strong-buy” rating to a “buy” rating and set a $36.44 price objective for the company. in a report on Monday, May 9th. Deutsche Bank AG reissued a “buy” rating on shares of Best Buy in a report on Monday, April 4th. Barclays PLC started coverage on Best Buy in a report on Wednesday, March 30th. They issued an “overweight” rating and a $45.00 price objective for the company. Finally, Bank of America Corp. reissued a “sell” rating on shares of Best Buy in a report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.12.

The company has a market capitalization of $10.13 billion and a price-to-earnings ratio of 10.79. The stock’s 50 day moving average price is $30.76 and its 200-day moving average price is $30.90.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, May 24th. The technology retailer reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.09. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.29 billion. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 EPS. Equities research analysts predict that Best Buy Co. will post $2.90 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Tuesday, June 14th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Friday, June 10th.

In other Best Buy news, CEO Hubert Joly sold 398,000 shares of Best Buy stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $32.24, for a total value of $12,831,520.00. Following the sale, the chief executive officer now owns 511,139 shares of the company’s stock, valued at approximately $16,479,121.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mathew Watson sold 1,363 shares of Best Buy stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $32.10, for a total value of $43,752.30. Following the completion of the sale, the chief accounting officer now directly owns 20,668 shares in the company, valued at approximately $663,442.80. The disclosure for this sale can be found here.

Other large investors have made changes to their positions in the company. State of Tennessee Treasury Department raised its stake in shares of Best Buy by 44.4% in the fourth quarter. State of Tennessee Treasury Department now owns 124,455 shares of the technology retailer’s stock worth $3,789,000 after buying an additional 38,255 shares in the last quarter. Flippin Bruce & Porter Inc. raised its stake in shares of Best Buy by 2.1% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 144,370 shares of the technology retailer’s stock worth $4,396,000 after buying an additional 3,021 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Best Buy by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,528,553 shares of the technology retailer’s stock worth $107,444,000 after buying an additional 129,432 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Best Buy by 27.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 312,791 shares of the technology retailer’s stock worth $9,524,000 after buying an additional 67,494 shares in the last quarter. Finally, Redwood Investments LLC raised its stake in shares of Best Buy by 50.5% in the fourth quarter. Redwood Investments LLC now owns 257,947 shares of the technology retailer’s stock worth $7,854,000 after buying an additional 86,508 shares in the last quarter.

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers service to the consumers, small business owners and educators, who visit its stores, engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States, Canada and Mexico.

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