Best Buy Co. (NYSE:BBY) shares gapped up before the market opened on Thursday . The stock had previously closed at $33.68, but opened at $33.73. Best Buy shares last traded at $34.52, with a volume of 2,286,501 shares trading hands.

BBY has been the subject of several analyst reports. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, April 26th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Best Buy in a report on Thursday, April 14th. Vetr downgraded shares of Best Buy from a “strong-buy” rating to a “buy” rating and set a $35.51 price objective for the company. in a report on Wednesday, April 13th. Raymond James Financial Inc. reaffirmed a “buy” rating on shares of Best Buy in a report on Thursday, May 19th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Best Buy in a report on Tuesday, May 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.23.

The company has a market cap of $11.17 billion and a PE ratio of 11.91. The firm’s 50 day moving average price is $32.04 and its 200 day moving average price is $31.44.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, May 24th. The technology retailer reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.09. The firm earned $8.44 billion during the quarter, compared to analysts’ expectations of $8.29 billion. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. On average, equities research analysts forecast that Best Buy Co. will post $2.89 earnings per share for the current fiscal year.

In related news, CEO Hubert Joly sold 398,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 511,139 shares of the company’s stock, valued at approximately $16,479,121.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 1,363 shares of the firm’s stock in a transaction dated 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 transaction, 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 hedge funds and institutional investors recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased 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 in the last quarter. Flippin Bruce & Porter Inc. increased its position in Best Buy by 2.1% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 144,370 shares of the technology retailer’s stock valued at $4,396,000 after buying an additional 3,021 shares in the last quarter. Paradigm Capital Management Inc. NY increased 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 in the last quarter. Victory Capital Management Inc. increased 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 in the last quarter. Finally, American International Group Inc. increased its position in Best Buy by 9.0% in the fourth quarter. American International Group Inc. now owns 157,106 shares of the technology retailer’s stock valued at $4,783,000 after buying an additional 12,954 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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