Rational Advisors LLC cut its position in Best Buy Co., Inc. (NYSE:BBY) by 47.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,136 shares of the technology retailer’s stock after selling 10,800 shares during the period. Rational Advisors LLC’s holdings in Best Buy Co. were worth $696,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Cleararc Capital Inc. increased its stake in shares of Best Buy Co. by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,644 shares of the technology retailer’s stock worth $327,000 after buying an additional 18 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of Best Buy Co. by 1.9% in the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock worth $304,000 after buying an additional 100 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Best Buy Co. by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,173 shares of the technology retailer’s stock worth $844,000 after buying an additional 106 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Best Buy Co. by 2.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,538 shares of the technology retailer’s stock worth $346,000 after buying an additional 175 shares during the last quarter. Finally, Intrust Bank NA increased its stake in shares of Best Buy Co. by 4.5% in the first quarter. Intrust Bank NA now owns 4,998 shares of the technology retailer’s stock worth $246,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 94.06% of the company’s stock.

Best Buy Co., Inc. (NYSE:BBY) opened at 60.07 on Friday. Best Buy Co., Inc. has a 52-week low of $32.20 and a 52-week high of $62.36. The firm has a 50-day moving average price of $57.16 and a 200 day moving average price of $51.33. The stock has a market cap of $18.32 billion, a PE ratio of 16.16 and a beta of 1.45.

Best Buy Co. (NYSE:BBY) last issued its earnings results on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, beating the 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 business had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same period last year, the business posted $0.44 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, analysts forecast that Best Buy Co., Inc. will post $3.89 earnings per share for the current fiscal year.

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A number of equities research analysts have weighed in on the company. UBS AG reiterated a “buy” rating and issued a $51.00 target price (up from $47.00) on shares of Best Buy Co. in a report on Wednesday, May 24th. ValuEngine downgraded Best Buy Co. from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Loop Capital upgraded Best Buy Co. from a “sell” rating to a “hold” rating and lowered their target price for the stock from $37.00 to $35.00 in a report on Monday, May 15th. Bank of America Corporation upgraded Best Buy Co. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $58.00 in a report on Tuesday, April 25th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 target price on shares of Best Buy Co. in a report on Wednesday. Four analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $56.76.

In other Best Buy Co. news, VP Mathew Watson sold 758 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $51.82, for a total transaction of $39,279.56. Following the sale, the vice president now directly owns 19,172 shares in the company, valued at approximately $993,493.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Asheesh Saksena sold 22,255 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $55.66, for a total value of $1,238,713.30. Following the sale, the insider now owns 82,440 shares in the company, valued at $4,588,610.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,917 shares of company stock worth $7,107,375. Company insiders own 1.21% 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.

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

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