Best Buy Co. (NYSE:BBY) shares traded down 1% during trading on Monday . The stock traded as low as $34.10 and last traded at $34.51, with a volume of 2,216,843 shares changing hands. The stock had previously closed at $34.87.

Several research analysts recently commented on the stock. Vetr upgraded shares of Best Buy from a “buy” rating to a “strong-buy” rating and set a $36.20 price target on the stock in a report on Monday, May 2nd. BTIG Research restated a “buy” rating on shares of Best Buy in a report on Tuesday, August 2nd. Piper Jaffray Cos. restated a “buy” rating and issued a $31.00 price target on shares of Best Buy in a report on Thursday, June 23rd. Credit Suisse Group AG lowered shares of Best Buy from a “buy” rating to a “neutral” rating and cut their price target for the company from $36.50 to $31.00 in a report on Wednesday, June 15th. Finally, Deutsche Bank AG lowered shares of Best Buy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $38.00 to $32.00 in a research note on Wednesday, May 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $34.06.

The firm’s 50 day moving average price is $32.29 and its 200 day moving average price is $31.60. The company has a market cap of $11.14 billion and a price-to-earnings ratio of 11.87.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, May 24th. The technology retailer reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. During the same quarter in the previous year, the company posted $0.37 earnings per share. The firm earned $8.44 billion during the quarter, compared to analyst estimates of $8.29 billion. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts predict 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 company’s stock in a transaction 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 $16,479,121.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 1,363 shares of the company’s stock in a transaction 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.

Several hedge funds and institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of 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 last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of 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 last quarter. Advisors Asset Management Inc. raised its position in shares of 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 last quarter. KBC Group NV raised its position in shares of 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 last quarter. Finally, Flippin Bruce & Porter Inc. raised its position 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 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.

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