CIBC Asset Management Inc Has $1.88 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

CIBC Asset Management Inc decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,835 shares of the technology retailer’s stock after selling 144 shares during the period. CIBC Asset Management Inc’s holdings in Best Buy Co. were worth $1,882,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BBY. Independence Advisors LLC purchased a new stake in Best Buy Co. during the second quarter valued at about $284,000. Huntington National Bank raised its stake in Best Buy Co. by 18.4% in the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after buying an additional 318 shares in the last quarter. Exane Derivatives raised its stake in Best Buy Co. by 65.5% in the second 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 in the last quarter. Advisory Services Network LLC purchased a new stake in Best Buy Co. during the first quarter valued at about $134,000. Finally, Heritage Trust Co purchased a new stake in Best Buy Co. during the first quarter valued at about $137,000. 92.46% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Co., Inc. (NYSE BBY) traded down 1.13% during midday trading on Friday, hitting $59.47. The stock had a trading volume of 3,133,468 shares. Best Buy Co., Inc. has a 52 week low of $32.48 and a 52 week high of $62.36. The firm has a market cap of $18.14 billion, a P/E ratio of 16.00 and a beta of 1.45. The stock has a 50-day moving average of $57.68 and a 200-day moving average of $51.89.

Best Buy Co. (NYSE:BBY) last released 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 return on equity of 26.81% and a net margin of 3.01%. The business had revenue of $8.53 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. Best Buy Co.’s revenue was up 1.0% on a year-over-year basis. Analysts forecast that Best Buy Co., Inc. will post $3.89 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This article was reported by Community Financial News and is the property of of Community Financial News. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://www.com-unik.info/2017/08/19/cibc-asset-management-inc-sells-144-shares-of-best-buy-co-inc-nysebby-updated.html.

Several equities research analysts have weighed in on the company. UBS AG reaffirmed a “buy” rating and issued a $51.00 target price (up from $47.00) on shares of Best Buy Co. in a research report on Wednesday, May 24th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $60.00 target price on shares of Best Buy Co. in a research report on Thursday, August 3rd. Loop Capital reaffirmed a “buy” rating and issued a $72.00 target price on shares of Best Buy Co. in a research report on Wednesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $60.00 target price on shares of Best Buy Co. in a research report on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $56.00 target price (up from $49.00) on shares of Best Buy Co. in a research report on Sunday, May 28th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and nineteen have assigned a buy rating to the stock. Best Buy Co. presently has an average rating of “Buy” and a consensus target price of $56.76.

In related news, VP Mathew Watson sold 758 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $51.82, for a total transaction of $39,279.56. Following the sale, the vice president now owns 19,172 shares in the company, valued at $993,493.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Asheesh Saksena sold 22,255 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $55.66, for a total value of $1,238,713.30. Following the sale, the insider now owns 82,440 shares in the company, valued at approximately $4,588,610.40. The disclosure for this sale can be found here. Insiders have sold 121,917 shares of company stock worth $7,107,375 in the last quarter. 1.21% of the stock is currently owned by corporate insiders.

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.

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

What are top analysts saying about Best Buy Co. Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Best Buy Co. Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit