Best Buy Co. (NYSE:BBY)’s share price rose 2.4% on Thursday . The company traded as high as $32.63 and last traded at $32.56, with a volume of 2,408,223 shares traded. The stock had previously closed at $31.79.

BBY has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Bank of America Corp. restated a “buy” rating on shares of Best Buy in a research report on Thursday, June 23rd. Vetr upgraded shares of Best Buy from a “buy” rating to a “strong-buy” rating and set a $35.52 price target on the stock in a research report on Wednesday, April 6th. Credit Suisse Group AG restated a “buy” rating and set a $36.50 price target on shares of Best Buy in a research report on Wednesday, May 25th. Finally, Raymond James Financial Inc. restated a “buy” rating on shares of Best Buy in a research report on Thursday, May 26th. One investment 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’s stock. The company currently has an average rating of “Buy” and an average price target of $34.12.

The stock’s 50-day moving average is $30.76 and its 200 day moving average is $30.95. The company has a market capitalization of $10.37 billion and a price-to-earnings ratio of 11.05.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, May 24th. The technology retailer reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.09. The company earned $8.44 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $0.37 earnings per share. Best Buy’s revenue was down 1.3% on a year-over-year basis. On average, equities analysts expect that Best Buy Co. will post $2.90 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Tuesday, June 14th were given a $0.28 dividend. The ex-dividend date was Friday, June 10th. This represents a $1.12 annualized dividend and a dividend yield of 3.48%.

In related news, CEO Hubert Joly sold 398,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were 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 directly owns 511,139 shares of the company’s stock, valued at $16,479,121.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mathew Watson sold 1,363 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $32.10, for a total transaction 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 $663,442.80. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have bought and sold shares of BBY. Commerzbank Aktiengesellschaft FI raised its position in Best Buy by 42.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 34,646 shares of the technology retailer’s stock valued at $1,055,000 after buying an additional 10,268 shares during the last quarter. Victory Capital Management Inc. raised its position in Best Buy by 33.8% in the fourth quarter. Victory Capital Management Inc. now owns 38,291 shares of the technology retailer’s stock valued at $1,166,000 after buying an additional 9,674 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Best Buy by 5.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 42,022 shares of the technology retailer’s stock valued at $1,280,000 after buying an additional 2,303 shares during the last quarter. Advisors Asset Management Inc. raised its position in Best Buy by 251.0% in the fourth quarter. Advisors Asset Management Inc. now owns 42,778 shares of the technology retailer’s stock valued at $1,303,000 after buying an additional 30,590 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY raised its position in Best Buy by 17.4% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 51,550 shares of the technology retailer’s stock valued at $1,569,000 after buying an additional 7,625 shares during 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.