Tokio Marine Asset Management Co. Ltd. cut its stake in Best Buy Co., Inc. (NYSE:BBY) by 16.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,952 shares of the technology retailer’s stock after selling 805 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Best Buy Co. were worth $227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. boosted its position in shares of Best Buy Co. by 20.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 27,343 shares of the technology retailer’s stock valued at $1,344,000 after buying an additional 4,558 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in shares of Best Buy Co. by 4.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 6,078 shares of the technology retailer’s stock valued at $299,000 after buying an additional 248 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Best Buy Co. by 164.5% in the first quarter. State of Alaska Department of Revenue now owns 58,927 shares of the technology retailer’s stock valued at $2,895,000 after buying an additional 36,647 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of Best Buy Co. by 569.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 38,196 shares of the technology retailer’s stock valued at $1,877,000 after buying an additional 32,490 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Best Buy Co. by 60.1% in the first quarter. Nisa Investment Advisors LLC now owns 105,454 shares of the technology retailer’s stock valued at $5,183,000 after buying an additional 39,569 shares during the last quarter. Hedge funds and other institutional investors own 94.06% of the company’s stock.

Best Buy Co., Inc. (NYSE:BBY) opened at 61.76 on Tuesday. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 16.62 and a beta of 1.45. The firm’s 50-day moving average price is $56.16 and its 200-day moving average price is $50.53. Best Buy Co., Inc. has a 1-year low of $32.02 and a 1-year high of $61.95. Best Buy Co. also was the recipient of some unusual options trading on Monday. Investors bought 993 call options on the company. This represents an increase of approximately 163% compared to the typical daily volume of 378 call options.

Best Buy Co. (NYSE:BBY) last announced its earnings results on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.20. The firm had revenue of $8.53 billion for the quarter, compared to analysts’ expectations of $8.28 billion. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. Best Buy Co.’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, equities research analysts anticipate that Best Buy Co., Inc. will post $3.89 earnings per share for the current year.

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Several brokerages recently weighed in on BBY. ValuEngine cut Best Buy Co. from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Telsey Advisory Group lifted their price target on Best Buy Co. from $53.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, May 26th. Deutsche Bank AG reiterated a “buy” rating and set a $60.00 price target on shares of Best Buy Co. in a research report on Thursday, August 3rd. Loop Capital reiterated a “buy” rating and set a $72.00 price target (up from $64.00) on shares of Best Buy Co. in a research report on Monday, June 5th. Finally, BidaskClub upgraded Best Buy Co. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the stock. Best Buy Co. has a consensus rating of “Buy” and an average target price of $56.76.

In other Best Buy Co. news, insider Patricia H. Walker sold 9,974 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $59.86, for a total transaction of $597,043.64. Following the sale, the insider now owns 24,122 shares in the company, valued at approximately $1,443,942.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Mathew Watson sold 758 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $51.82, for a total value of $39,279.56. Following the sale, the vice president now owns 19,172 shares in the company, valued at approximately $993,493.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,917 shares of company stock worth $7,107,375. 0.84% of the stock is owned by insiders.

Best Buy Co. Company Profile

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.

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

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