Public Employees Retirement Association of Colorado lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,808 shares of the technology retailer’s stock after selling 481 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Best Buy Co. were worth $3,142,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in Best Buy Co. by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 568,769 shares of the technology retailer’s stock worth $24,269,000 after buying an additional 10,469 shares in the last quarter. Macquarie Group Ltd. raised its stake in Best Buy Co. by 106.7% in the fourth quarter. Macquarie Group Ltd. now owns 18,600 shares of the technology retailer’s stock worth $793,000 after buying an additional 9,600 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Best Buy Co. by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 235,933 shares of the technology retailer’s stock worth $11,596,000 after buying an additional 5,668 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in Best Buy Co. by 13.8% in the first quarter. Manning & Napier Advisors LLC now owns 46,582 shares of the technology retailer’s stock worth $2,288,000 after buying an additional 5,653 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in Best Buy Co. by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 88,013 shares of the technology retailer’s stock worth $4,325,000 after buying an additional 800 shares in the last quarter. 94.06% of the stock is currently owned by institutional investors.

Best Buy Co., Inc. (BBY) opened at 60.28 on Monday. Best Buy Co., Inc. has a one year low of $32.02 and a one year high of $61.95. The firm has a market capitalization of $18.38 billion, a PE ratio of 16.22 and a beta of 1.45. The firm has a 50-day moving average price of $56.16 and a 200 day moving average price of $50.53.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.20. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The firm had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate that Best Buy Co., Inc. will post $3.89 EPS for the current fiscal year.

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A number of equities research analysts have recently commented on BBY shares. Deutsche Bank AG raised Best Buy Co. from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, April 11th. Bank of America Corporation raised Best Buy Co. from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $58.00 in a research report on Tuesday, April 25th. Loop Capital raised Best Buy Co. from a “sell” rating to a “hold” rating and dropped their price target for the stock from $37.00 to $35.00 in a research report on Monday, May 15th. Wedbush reaffirmed an “underperform” rating and set a $29.00 price target on shares of Best Buy Co. in a research report on Monday, May 22nd. Finally, UBS AG reaffirmed a “buy” rating and set a $51.00 price target (up previously from $47.00) on shares of Best Buy Co. in a research report on Wednesday, May 24th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.76.

In related news, insider Asheesh Saksena sold 22,255 shares of Best Buy Co. stock in a transaction on Friday, June 16th. The stock was sold at an average price of $55.66, for a total transaction of $1,238,713.30. Following the completion of the sale, the insider now owns 82,440 shares of the company’s stock, valued at $4,588,610.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mathew Watson sold 503 shares of Best Buy Co. stock in a transaction on Friday, June 9th. The shares were sold at an average price of $59.00, for a total value of $29,677.00. Following the sale, the vice president now directly owns 15,767 shares of the company’s stock, valued at approximately $930,253. The disclosure for this sale can be found here. Insiders sold 121,917 shares of company stock valued at $7,107,375 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

About Best Buy Co.

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Institutional Ownership by Quarter for Best Buy Co. (NYSE:BBY)

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