361 Capital LLC decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 54.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,499 shares of the technology retailer’s stock after selling 110,165 shares during the quarter. Best Buy Co. comprises 1.0% of 361 Capital LLC’s holdings, making the stock its 3rd largest holding. 361 Capital LLC’s holdings in Best Buy Co. were worth $5,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBY. Thrivent Financial For Lutherans grew its holdings in Best Buy Co. by 4.1% during the first quarter. Thrivent Financial For Lutherans now owns 9,885 shares of the technology retailer’s stock worth $486,000 after buying an additional 390 shares in the last quarter. Eqis Capital Management Inc. lifted its position in shares of Best Buy Co. by 23.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 7,400 shares of the technology retailer’s stock valued at $424,000 after buying an additional 1,411 shares during the last quarter. Exane Derivatives lifted its position in shares of Best Buy Co. by 65.5% during the 2nd quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after buying an additional 1,010 shares during the last quarter. Aperio Group LLC raised its stake in shares of Best Buy Co. by 15.6% during the 2nd quarter. Aperio Group LLC now owns 165,483 shares of the technology retailer’s stock valued at $9,487,000 after purchasing an additional 22,375 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Best Buy Co. during the 2nd quarter valued at $672,000. Hedge funds and other institutional investors own 87.52% of the company’s stock.

Best Buy Co., Inc. (NYSE:BBY) traded up $0.10 during trading on Thursday, hitting $57.30. The company’s stock had a trading volume of 5,272,100 shares, compared to its average volume of 4,419,108. The company has a market cap of $16,280.00, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42. Best Buy Co., Inc. has a twelve month low of $39.43 and a twelve month high of $63.32. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30.

Best Buy Co. (NYSE:BBY) last released its quarterly earnings results on Wednesday, November 15th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. research analysts expect that Best Buy Co., Inc. will post 4.06 earnings per share for the current fiscal year.

BBY has been the topic of a number of research analyst reports. Loop Capital set a $72.00 target price on Best Buy Co. and gave the stock a “buy” rating in a research note on Thursday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a research report on Thursday. Deutsche Bank AG reiterated a “buy” rating and set a $60.00 price objective on shares of Best Buy Co. in a research report on Thursday, August 3rd. KeyCorp reiterated a “hold” rating on shares of Best Buy Co. in a research report on Friday, November 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $60.00 price objective on shares of Best Buy Co. in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.97.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this report on another domain, it was copied illegally and republished in violation of US & international trademark and copyright laws. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/11/16/best-buy-co-inc-bby-stake-lowered-by-361-capital-llc.html.

In related news, insider Shari L. Ballard sold 2,246 shares of Best Buy Co. stock in a transaction on Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $134,580.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Corie S. Barry sold 3,134 shares of Best Buy Co. stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $57.26, for a total value of $179,452.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 166,259 shares of company stock worth $9,182,693. 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.

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY).

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

Receive News & Ratings for Best Buy Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.