Is Buying Best Buy CO Inc (NYSE:BBY) Here Good Idea?

May 17, 2018 - By Margaret Downey

Best Buy Co., Inc. (NYSE:BBY) Logo

Investors sentiment increased to 0.86 in Q4 2017. Its up 0.10, from 0.76 in 2017Q3. It improved, as 34 investors sold Best Buy Co., Inc. shares while 198 reduced holdings. 75 funds opened positions while 124 raised stakes. 233.61 million shares or 5.15% less from 246.28 million shares in 2017Q3 were reported.
Livforsakringsbolaget Skandia Omsesidigt stated it has 0.47% in Best Buy Co., Inc. (NYSE:BBY). Moreover, Ameriprise Financial Incorporated has 0.18% invested in Best Buy Co., Inc. (NYSE:BBY) for 5.64M shares. The Pennsylvania-based First Commonwealth Corp Pa has invested 0.22% in Best Buy Co., Inc. (NYSE:BBY). Comerica Bank stated it has 62,610 shares. Fiduciary Trust Company holds 0.02% or 12,084 shares in its portfolio. Stone Ridge Asset Management Ltd Liability Corporation holds 0.67% of its portfolio in Best Buy Co., Inc. (NYSE:BBY) for 148,076 shares. Denali Advsr Limited Liability Corp holds 9,900 shares or 0.11% of its portfolio. Moreover, Everence Cap Management has 0.07% invested in Best Buy Co., Inc. (NYSE:BBY). Delta Asset Mngmt Ltd Company Tn accumulated 0% or 80 shares. Toronto Dominion Savings Bank holds 0.02% in Best Buy Co., Inc. (NYSE:BBY) or 110,738 shares. Acadian Asset Mngmt Limited Liability accumulated 21,192 shares or 0.01% of the stock. Credit Suisse Ag invested in 610,698 shares. Barrow Hanley Mewhinney And Strauss Limited Liability has invested 0% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). Bank Of Montreal Can invested 0.02% in Best Buy Co., Inc. (NYSE:BBY). 18,443 are owned by Shell Asset Mngmt Comm.

Since December 12, 2017, it had 0 buys, and 30 insider sales for $53.96 million activity. Watson Mathew had sold 225 shares worth $16,301 on Monday, March 12. On Thursday, March 15 Joly Hubert sold $16.74M worth of Best Buy Co., Inc. (NYSE:BBY) or 240,468 shares. Ballard Shari L sold $1.91 million worth of stock or 27,475 shares. Nelsen Keith J sold $902,850 worth of Best Buy Co., Inc. (NYSE:BBY) on Thursday, March 15. Another trade for 1,533 shares valued at $108,070 was sold by Saksena Asheesh. 706 shares valued at $49,770 were sold by Scarlett Kathleen on Wednesday, March 14.

The stock of Best Buy CO Inc (NYSE:BBY) registered a decrease of 15.09% in short interest. BBY’s total short interest was 25.76 million shares in May as published by FINRA. Its down 15.09% from 30.34 million shares, reported previously. With 2.86 million shares average volume, it will take short sellers 9 days to cover their BBY’s short positions. The short interest to Best Buy CO Inc’s float is 10.12%.

The stock increased 1.06% or $0.83 during the last trading session, reaching $79.34. About 1.20 million shares traded. Best Buy Co., Inc. (NYSE:BBY) has risen 46.62% since May 17, 2017 and is uptrending. It has outperformed by 35.07% the S&P500.

Best Buy Co., Inc. operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company has market cap of $22.37 billion. The firm operates through two reportable divisions, Domestic and International. It has a 24.32 P/E ratio. The Company’s stores provide consumer electronics, such as home theater, home automation, digital imaging, health and fitness, and portable audio products; computing and mobile phones, including computing and peripherals, networking, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, such as gaming hardware and software, movie, music, technology toy, and other software products.

Best Buy Co., Inc. (NYSE:BBY) Ratings Coverage

Among 14 analysts covering Best Buy Co (NYSE:BBY), 3 have Buy rating, 2 Sell and 9 Hold. Therefore 21% are positive. Best Buy Co had 15 analyst reports since December 4, 2017 according to SRatingsIntel. Telsey Advisory maintained the shares of BBY in report on Friday, March 2 with “Hold” rating. The rating was maintained by Credit Suisse with “Hold” on Monday, March 5. The firm has “Neutral” rating given on Friday, February 16 by Citigroup. Jefferies maintained it with “Hold” rating and $74.0 target in Tuesday, February 27 report. Loop Capital Markets maintained it with “Buy” rating and $83.0 target in Thursday, March 1 report. The stock of Best Buy Co., Inc. (NYSE:BBY) has “Sell” rating given on Monday, February 26 by Wedbush. The stock of Best Buy Co., Inc. (NYSE:BBY) earned “Buy” rating by Bank of America on Friday, March 2. The firm has “Hold” rating by RBC Capital Markets given on Monday, February 12. The company was downgraded on Thursday, January 25 by Telsey Advisory Group. The stock has “Overweight” rating by Barclays Capital on Tuesday, January 30.

More news for Best Buy Co., Inc. (NYSE:BBY) were recently published by: Seekingalpha.com, which released: “Best Buy’s Resilience Absolutely Incredible” on April 19, 2018. Benzinga.com‘s article titled: “Amazon, Best Buy Find ‘Mutually Beneficial Opportunities’ In TV Partnership” and published on April 19, 2018 is yet another important article.

Best Buy Co., Inc. (NYSE:BBY) Institutional Positions Chart

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