Stock On Watch: What’s Next for Best Buy Co Inc After Today’s Huge Increase?

Stock On Watch: What's Next for Best Buy Co Inc After Today's Huge Increase?

The stock of Best Buy Co Inc (NYSE:BBY) is a huge mover today! About 1.71M shares traded hands. Best Buy Co Inc (NYSE:BBY) has risen 15.56% since March 1, 2016 and is uptrending. It has outperformed by 6.31% the S&P500.
The move comes after 7 months positive chart setup for the $12.06B company. It was reported on Oct, 4 by We have $61.20 PT which if reached, will make NYSE:BBY worth $7.36 billion more.

Best Buy Co Inc (NYSE:BBY) Ratings Coverage

Out of 18 analysts covering Best Buy Co (NYSE:BBY), 6 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 33% are positive. Best Buy Co has been the topic of 47 analyst reports since August 10, 2015 according to StockzIntelligence Inc. On Tuesday, January 19 the stock rating was downgraded by Morgan Stanley to “Equal-Weight”. The company was maintained on Wednesday, May 25 by Telsey Advisory Group. 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. Citigroup downgraded Best Buy Co Inc (NYSE:BBY) on Wednesday, May 25 to “Neutral” rating. The stock of Best Buy Co Inc (NYSE:BBY) earned “Buy” rating by Credit Suisse on Monday, August 17. The firm has “Underperform” rating by Wedbush given on Friday, February 26. The firm earned “Outperform” rating on Wednesday, August 17 by Ladenburg Thalmann. Vetr upgraded the shares of BBY in a report on Monday, August 10 to “Buy” rating. Jefferies maintained Best Buy Co Inc (NYSE:BBY) rating on Wednesday, August 26. Jefferies has “Buy” rating and $50 price target. The rating was maintained by Wedbush on Monday, August 17 with “Neutral”.

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.”

Insitutional Activity: The institutional sentiment increased to 1.07 in 2016 Q2. Its up 0.38, from 0.69 in 2016Q1. The ratio is positive, 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.
Moreover, Pillar Pacific Cap Mgmt Ltd Company has 0.04% invested in Best Buy Co Inc (NYSE:BBY) for 7,384 shares. The United Kingdom-based Aberdeen Asset Management Public Limited Company Uk has invested 0.05% in Best Buy Co Inc (NYSE:BBY). D E Shaw Com has 0% invested in the company for 44,184 shares. Cibc Mkts Inc owns 29,359 shares or 0% of their US portfolio. Cibc Asset holds 36,188 shares or 0.01% of its portfolio. Cadence Capital Mngmt Lc has 0.11% invested in the company for 46,114 shares. Manning & Napier Advsrs Ltd Liability has invested 0.01% of its portfolio in Best Buy Co Inc (NYSE:BBY). World Asset Management accumulated 0.04% or 31,449 shares. Hexavest Inc holds 0% or 8,772 shares in its portfolio. Lpl Fincl Lc has 14,521 shares for 0% of their US portfolio. Signaturefd Ltd Liability Com last reported 0% of its portfolio in the stock. State Of New Jersey Common Pension Fund D has invested 0.01% of its portfolio in Best Buy Co Inc (NYSE:BBY). Nelson Van Denburg Campbell Wealth Management Gru Limited Liability Co has 121 shares for 0% of their US portfolio. Thrivent Fin For Lutherans has invested 0.02% of its portfolio in Best Buy Co Inc (NYSE:BBY). Ruggie Cap Group has 32 shares for 0% of their US portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 5 selling transactions for $17.92 million net activity. Watson Mathew sold $40,630 worth of stock. On Wednesday, August 31 Nelsen Keith J sold $2.31M worth of the stock or 59,893 shares. Another trade for 221,335 shares valued at $8.53M was made by MOHAN RAJENDRA M on Wednesday, August 31. On Wednesday, August 31 Ballard Shari L sold $7.00M worth of the stock or 181,362 shares.

More news for Best Buy Co Inc (NYSE:BBY) were recently published by:, which released: “How Best Buy Co., Inc. Rose 14.5% in August” on September 07, 2016.‘s article titled: “Best Buy Accused of Selling Counterfeit Products” and published on October 04, 2016 is yet another important article.

BBY Company Profile

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,, 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,,, 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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