Best Buy Co. (NYSE:BBY) saw unusually-strong trading volume on Friday . Approximately 4,424,657 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 3,893,573 shares.The stock last traded at $34.91 and had previously closed at $34.62.

Several research analysts have recently weighed in on BBY shares. Zacks Investment Research downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Bank of America Corp. reiterated a “buy” rating on shares of Best Buy in a research note on Thursday, June 23rd. Credit Suisse Group AG reiterated a “buy” rating and set a $36.50 price objective on shares of Best Buy in a research note on Wednesday, May 25th. Raymond James Financial Inc. reiterated a “buy” rating on shares of Best Buy in a research note on Thursday, May 26th. Finally, Longbow Research started coverage on shares of Best Buy in a research note on Thursday, June 16th. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.23.

The company has a 50 day moving average of $32.17 and a 200-day moving average of $31.49. The company has a market capitalization of $11.25 billion and a price-to-earnings ratio of 11.99.

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

In related news, CEO Hubert Joly sold 398,000 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 511,139 shares in the company, valued at approximately $16,479,121.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mathew Watson sold 1,363 shares of the business’s 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 transaction, the chief accounting officer now owns 20,668 shares of the company’s stock, valued at $663,442.80. The disclosure for this sale can be found here.

Other institutional investors have modified their holdings of the company. 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 worth $1,166,000 after buying an additional 9,674 shares during the period. 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 worth $1,280,000 after buying an additional 2,303 shares during the period. Advisors Asset Management Inc. increased 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 worth $1,303,000 after buying an additional 30,590 shares during the period. KBC Group NV increased its position in Best Buy by 158.2% in the fourth quarter. KBC Group NV now owns 130,577 shares of the technology retailer’s stock worth $3,976,000 after buying an additional 80,013 shares during the period. Finally, 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 worth $4,396,000 after buying an additional 3,021 shares during the period.

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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