November 23, 2016 - By Peter Kolinski
As discovered in a document that has been filled with the Security and Exchange Commission on November 23, 2016, Rajendra Mohan, Chief Merchandising Officer of Best Buy Co Inc and an insider, made a sale of 61,386 shares of the firm for approx. $2,789,409 USD which is based on an average stock price per share of $45.4. Rajendra Mohan currently has in hand 82,049 shares which make up about 0.03% of the Minnesota-based company’s market cap.
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) has “Neutral” rating given on Monday, August 10 by UBS. RBC Capital Markets maintained the shares of BBY in a report on Wednesday, August 24 with “Sector Perform” rating. Telsey Advisory Group maintained Best Buy Co Inc (NYSE:BBY) rating on Wednesday, August 24. Telsey Advisory Group has “Outperform” rating and $42 price target. Credit Suisse downgraded Best Buy Co Inc (NYSE:BBY) on Wednesday, June 15 to “Neutral” rating. The rating was upgraded by Piper Jaffray on Monday, August 24 to “Overweight”. As per Wednesday, August 26, the company rating was maintained by UBS. The rating was maintained by Jefferies on Wednesday, August 26 with “Buy”. RBC Capital Markets maintained Best Buy Co Inc (NYSE:BBY) on Friday, January 15 with “Sector Perform” rating. The firm has “Buy” rating by RBC Capital Markets given on Wednesday, August 26. The stock has “Underperform” rating given by Wedbush on Friday, February 26.
Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.07, from 1.07 in 2016Q1. The ratio fall, 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.
Peak6 L P, a Illinois-based fund reported 281,758 shares. Hexavest Incorporated reported 8,772 shares or 0% of all its holdings. Signaturefd Llc accumulated 603 shares or 0% of the stock. The New York-based Gamco Investors Et Al has invested 0.02% in Best Buy Co Inc (NYSE:BBY). Royal Bancorp Of Canada holds 0.01% of its portfolio in Best Buy Co Inc (NYSE:BBY) for 341,454 shares. Ameriprise Fin last reported 2.11 million shares in the company. Creative Planning reported 66,258 shares or 0.01% of all its holdings. Allianz Asset Mngmt Ag holds 660,774 shares or 0.01% of its portfolio. Blackrock Limited Com holds 621,668 shares or 0.02% of its portfolio. Exxonmobil Invest Management Tx owns 72,982 shares or 0.05% of their US portfolio. Proshare Ltd Liability Company accumulated 59,653 shares or 0.02% of the stock. The France-based Natixis Asset has invested 0.07% in Best Buy Co Inc (NYSE:BBY). Bankshares Of America Corp De reported 976,551 shares or 0.01% of all its holdings. Euclidean Techs Mngmt Limited Liability Corporation accumulated 63,008 shares or 2.06% of the stock. Ckw Gru has 0% invested in the company for 60 shares.
Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, 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. On Wednesday, August 31 Ballard Shari L sold $7.00M worth of the stock or 181,362 shares. $2.31M worth of shares were sold by Nelsen Keith J on Wednesday, August 31. Watson Mathew sold $40,630 worth of Best Buy Co Inc (NYSE:BBY) on Thursday, August 25.
About 5.31M 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 earnings per share, up 7.84% or $0.12 from last year’s $1.53 per share. BBY’s profit will be $535.33 million for 7.10 P/E if the $1.65 EPS becomes a reality. After $0.62 actual earnings per share 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 Investorplace.com with their article: “Why Best Buy Co Inc Could Be a Top Value Stock Pick (BBY)” published on November 23, 2016, Fool.com published: “Why Best Buy Co., Inc. Stock Soared Today” on November 17, 2016. More interesting news about Best Buy Co Inc (NYSE:BBY) were released by: Investorplace.com and their article: “Google Shop Launches: Alphabet Inc (GOOGL) Partners With Best Buy Co Inc (BBY)” published on November 21, 2016 as well as Investorplace.com‘s news article titled: “Best Buy Co Inc (BBY) Stock Is No Holiday Bargain” with publication date: November 14, 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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