Catalyst Capital Advisors LLC lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 15.3% during the second quarter, Holdings Channel reports. The institutional investor owned 78,820 shares of the technology retailer’s stock after selling 14,247 shares during the period. Catalyst Capital Advisors LLC’s holdings in Best Buy Co. were worth $4,519,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new stake in shares of Best Buy Co. during the second quarter valued at $1,534,000. Foster & Motley Inc. acquired a new stake in shares of Best Buy Co. during the first quarter valued at $250,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Best Buy Co. by 8.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,302 shares of the technology retailer’s stock valued at $2,866,000 after buying an additional 4,732 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Best Buy Co. by 9.1% in the first quarter. Geode Capital Management LLC now owns 3,494,964 shares of the technology retailer’s stock valued at $171,592,000 after buying an additional 292,667 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Best Buy Co. by 7.2% in the first quarter. Xact Kapitalforvaltning AB now owns 49,669 shares of the technology retailer’s stock valued at $2,441,000 after buying an additional 3,342 shares in 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. The company has a market cap of $18.32 billion, a price-to-earnings ratio of 16.16 and a beta of 1.45. Best Buy Co., Inc. has a 12-month low of $32.20 and a 12-month high of $62.36. The stock has a 50 day moving average price of $57.16 and a 200-day moving average price of $51.33.

Best Buy Co. (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.28 billion. During the same period in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts predict that Best Buy Co., Inc. will post $3.89 EPS for the current fiscal year.

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BBY has been the subject of a number of recent research reports. Loop Capital reaffirmed a “buy” rating and issued a $72.00 target price (up previously from $64.00) on shares of Best Buy Co. in a report on Monday, June 5th. Morgan Stanley raised Best Buy Co. from an “equal weight” rating to a “buy” rating and upped their target price for the stock from $43.00 to $60.00 in a report on Tuesday, May 30th. Deutsche Bank AG raised Best Buy Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $46.00 to $60.00 in a report on Tuesday, May 30th. BidaskClub raised Best Buy Co. from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $60.00 target price (up previously from $47.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. Best Buy Co. presently has an average rating of “Buy” and a consensus target price of $56.76.

In other news, insider Asheesh Saksena sold 18,706 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $57.08, for a total value of $1,067,738.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mathew Watson sold 503 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $59.00, for a total value of $29,677.00. Following the completion of the sale, the vice president now directly owns 15,767 shares in the company, valued at $930,253. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,917 shares of company stock worth $7,107,375. 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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