November 23, 2016 - By Vivian Park
Victor Higgins, the director of Best Buy Co Inc, unloaded 15,000 shares of the company, valued by the stock market at $682,502 U.S. Dollars, based on an average weighted cost of $45.5 per each share. At present, Victor Higgins has ownership of 35,010 shares or roughly 0.01% of the Company’s total market capitalization. The sale was made on 23-11-2016 and this act was unveiled in a report which was filed with the SEC. This report is at your disposal here.
Out of 20 analysts covering Best Buy Co (NYSE:BBY), 6 rate it a “Buy”, 2 “Sell”, while 12 “Hold”. This means 30% are positive. $50 is the highest target while $20.50 is the lowest. The $39.35 average target is -16.06% below today’s ($46.88) stock price. Best Buy Co has been the topic of 52 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock of Best Buy Co Inc (NYSE:BBY) earned “Buy” rating by RBC Capital Markets on Wednesday, August 26. The stock of Best Buy Co Inc (NYSE:BBY) earned “Overweight” rating by Piper Jaffray on Monday, August 24. The stock of Best Buy Co Inc (NYSE:BBY) earned “Neutral” rating by Longbow on Thursday, June 16. The firm has “Neutral” rating given on Wednesday, June 15 by Credit Suisse. Telsey Advisory Group maintained it with “Outperform” rating and $36 target price in Wednesday, May 25 report. The company was maintained on Friday, February 26 by Wedbush. The rating was maintained by Telsey Advisory Group on Friday, November 18 with “Outperform”. The company was upgraded on Thursday, August 27 by Zacks. The firm has “Neutral” rating by Wedbush given on Monday, August 17. UBS maintained the stock with “Neutral” rating in Monday, August 10 report.
Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.07, from 1.07 in 2016Q1. The ratio dived, as 44 funds sold all Best Buy Co Inc shares owned while 139 reduced positions. 42 funds bought stakes while 153 increased positions. They now own 263.98 million shares or 4.84% less from 277.42 million shares in 2016Q1.
High Point State Bank And Trust Communication has 1,500 shares for 0.01% of their US portfolio. Citadel Advisors Ltd, a Illinois-based fund reported 115,593 shares. Ckw Financial Group has 60 shares for 0% of their US portfolio. Ny Life Com reported 1,720 shares or 0.26% of all its holdings. Delta Asset Management Limited Tn reported 255 shares or 0% of all its holdings. Gam Holding Ag holds 0.01% or 13,228 shares in its portfolio. Twin Cap Mngmt Inc, a Pennsylvania-based fund reported 16,370 shares. Manufacturers Life Ins Comm The last reported 286,706 shares in the company. Moreover, Assetmark has 0.01% invested in Best Buy Co Inc (NYSE:BBY) for 18,801 shares. Peak6 Investments L P reported 281,758 shares or 0.07% of all its holdings. Nordea Inv Management Ab has 0% invested in the company for 14,475 shares. Northrock Prtnrs Limited Liability last reported 0.28% of its portfolio in the stock. Oakworth has invested 0% of its portfolio in Best Buy Co Inc (NYSE:BBY). Pillar Pacific Mgmt Ltd Llc, a California-based fund reported 7,384 shares. Teacher Retirement System Of Texas accumulated 1.26 million shares or 0.26% of the stock.
Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 5 sales for $17.92 million net activity. $8.53 million worth of Best Buy Co Inc (NYSE:BBY) shares were sold by MOHAN RAJENDRA M. Nelsen Keith J sold $2.31 million worth of Best Buy Co Inc (NYSE:BBY) on Wednesday, August 31. 1,030 shares with value of $40,630 were sold by Watson Mathew on Thursday, August 25. Ballard Shari L had sold 181,362 shares worth $7.00 million.
About 5.31 million shares traded hands. Best Buy Co Inc (NYSE:BBY) has risen 41.81% since April 21, 2016 and is uptrending. It has outperformed by 36.48% the S&P500.
Best Buy Co., Inc. is a provider of technology products, services and solutions. The company has a market cap of $15.21 billion. The Firm offers services and products to the clients visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It has a 14.43 P/E ratio. It operates through two divisions: Domestic and International.
According to Zacks Investment Research, “Best Buy operates in a single business segment, selling personal computers and other home office products, consumer electronics, entertainment software, major appliances and related accessories principally through its retail stores. They operate retail stores and commercial Websites under the brand names Best Buy, Media Play, On Cue, Sam Goody, Suncoast, Magnolia Hi-Fi and Future Shop. They also operate in three segments: Best Buy, Musicland and International.”
Analysts await Best Buy Co Inc (NYSE:BBY) to report earnings on February, 23. They expect $1.65 EPS, up 7.84% or $0.12 from last year’s $1.53 per share. BBY’s profit will be $535.33M for 7.10 P/E if the $1.65 EPS becomes a reality. After $0.62 actual EPS reported by Best Buy Co Inc for the previous quarter, Wall Street now forecasts 166.13% EPS growth.
More notable recent Best Buy Co Inc (NYSE:BBY) news were published by: Investorplace.com which released: “3 Big Stock Charts for Wednesday: Best Buy Co Inc (BBY), Darden Restaurants ..” on November 23, 2016, also Fool.com with their article: “Why Best Buy Co., Inc. Stock Soared Today” published on November 17, 2016, Investorplace.com published: “Google Shop Launches: Alphabet Inc (GOOGL) Partners With Best Buy Co Inc (BBY)” on November 21, 2016. More interesting news about Best Buy Co Inc (NYSE:BBY) were released by: Investorplace.com and their article: “Best Buy Co Inc (BBY) Stock Is No Holiday Bargain” published on November 14, 2016 as well as Businesswire.com‘s news article titled: “Best Buy Reports Better-Than-Expected Third Quarter Results” with publication date: November 17, 2016.
Best Buy Co., Inc., incorporated on October 20, 1966, is a well-known provider of technology products, services and solutions. The Firm offers services and products to the clients visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has activities in the United States, Canada and Mexico. The Firm operates through two divisions: Domestic and International. The Domestic segment consists of the activities in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home. The International segment consists of all activities in Canada and Mexico under the brand names, Best Buy, bestbuy.com.ca, bestbuy.com.mx, Best Buy Express, Best Buy Mobile and Geek Squad. The Firm operates approximately 1,200 large-format and over 400 small-format stores throughout its Domestic and International divisions. It has a global sourcing operation to design, develop, test and contract-manufacture its brand products.
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By Vivian Park