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

Several equities analysts have recently weighed in on BBY shares. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, April 26th. Vetr raised 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 research note on Monday, May 2nd. Jefferies Group reissued a “buy” rating and issued a $39.00 price target on shares of Best Buy in a research note on Tuesday, May 17th. Raymond James Financial Inc. reissued a “buy” rating on shares of Best Buy in a research note on Thursday, May 19th. Finally, Citigroup Inc. downgraded shares of Best Buy from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.11.

The company has a 50-day moving average of $32.43 and a 200-day moving average of $31.65. The stock has a market capitalization of $10.78 billion and a P/E ratio of 11.49.

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 company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.29 billion. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, equities analysts forecast that Best Buy Co. will post $2.88 earnings per share for the current fiscal year.

In other news, CEO Hubert Joly sold 398,000 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $32.24, for a total transaction of $12,831,520.00. Following 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 SEC, which is available at this hyperlink. Also, CAO Mathew Watson sold 1,363 shares of the 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 transaction, the chief accounting officer now owns 20,668 shares in the company, valued at $663,442.80. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently made changes to their positions in the company. 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 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 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 valued at $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 valued at $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 valued at $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 valued at $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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