NewSquare Capital LLC decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,634 shares of the technology retailer’s stock after selling 312 shares during the period. NewSquare Capital LLC’s holdings in Best Buy Co. were worth $1,470,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BBY. Macquarie Group Ltd. raised its position in shares of Best Buy Co. by 106.7% in the fourth quarter. Macquarie Group Ltd. now owns 18,600 shares of the technology retailer’s stock worth $793,000 after buying an additional 9,600 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Best Buy Co. by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 88,013 shares of the technology retailer’s stock worth $4,325,000 after buying an additional 800 shares during the period. Tompkins Financial Corp purchased a new position in shares of Best Buy Co. during the first quarter worth $134,000. Nisa Investment Advisors LLC raised its position in shares of Best Buy Co. by 60.1% in the first quarter. Nisa Investment Advisors LLC now owns 105,454 shares of the technology retailer’s stock worth $5,183,000 after buying an additional 39,569 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its position in shares of Best Buy Co. by 569.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 38,196 shares of the technology retailer’s stock worth $1,877,000 after buying an additional 32,490 shares during the period. Institutional investors own 92.46% of the company’s stock.

Best Buy Co., Inc. (BBY) opened at 58.97 on Wednesday. The stock has a 50 day moving average price of $57.39 and a 200-day moving average price of $51.66. The company has a market capitalization of $17.98 billion, a PE ratio of 15.86 and a beta of 1.45. Best Buy Co., Inc. has a 52 week low of $32.20 and a 52 week high of $62.36.

Best Buy Co. (NYSE:BBY) last announced its earnings results on Thursday, May 25th. The technology retailer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.20. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. The company had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Best Buy Co., Inc. will post $3.89 earnings per share for the current fiscal year.

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BBY has been the topic of a number of recent research reports. Bank of America Corporation upgraded Best Buy Co. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a research note on Tuesday, April 25th. Loop Capital raised Best Buy Co. from a “sell” rating to a “hold” rating and reduced their price target for the stock from $37.00 to $35.00 in a research report on Monday, May 15th. Wedbush reissued an “underperform” rating and set a $29.00 price target on shares of Best Buy Co. in a research report on Monday, May 22nd. UBS AG reissued a “buy” rating and set a $51.00 price target (up previously from $47.00) on shares of Best Buy Co. in a research report on Wednesday, May 24th. Finally, Jefferies Group LLC increased their price target on Best Buy Co. from $43.00 to $51.00 and gave the stock a “hold – buy” rating in a research report on Thursday, May 25th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.76.

In related news, insider Patricia H. Walker sold 9,974 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $59.86, for a total value of $597,043.64. Following the completion of the transaction, the insider now directly owns 24,122 shares in the company, valued at $1,443,942.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mathew Watson sold 758 shares of the company’s 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 completion of the transaction, the vice president now owns 19,172 shares of the company’s stock, valued at $993,493.04. The disclosure for this sale can be found here. Insiders sold 121,917 shares of company stock valued at $7,107,375 over the last quarter. 0.84% of the stock is owned by company insiders.

Best Buy Co. Company Profile

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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