Best Buy's Earnings Pushing Stock to All-Time High

Best Buy earnings, sales top Street estimates; stock jumps 4%

No slump for Best Buy as it profits, sales jump in most recent quarter

At the moment 26 analysts are watching Best Buy Co., Inc. (NYSE:BBY) by 29.6% during the second quarter, according to its most recent disclosure with the SEC. In looking at volatility levels, the shares saw weekly volatility of 1.93% and 1.90% over the past month. The Maverick Capital Ltd holds 69,940 shares with $2.98 million value, down from 81,490 last quarter. Huntington National Bank increased its stake in Best Buy Co.by 18.4% in the second quarter. Finally, Acadian Asset Management LLC increased its position in shares of Best Buy Co.by 418.5% in the first quarter. Cleararc Capital has an ownership of 6,644 stocks of the technology retailer's shares valued $327,000 after scooping up an extra 18 shares through out the quarter. Macquarie Group Ltd. now owns 18,600 shares of the technology retailer's stock valued at $793,000 after buying an additional 9,600 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company's stock. Pnc Group has invested 0% in Best Buy Co Inc (NYSE:BBY). Nelson Van Denburg & Campbell Wealth Gp Limited invested 0% of its portfolio in Best Buy Co Inc (NYSE:BBY). The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 16.81 and a beta of 1.45. The firm has a 50-day moving average of $58.19 and a 200 day moving average of $52.51.

Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The firm had revenue of $8.94 billion during the quarter, compared to analysts' expectations of $8.67 billion. They expect $0.63 EPS, up 10.53% or $0.06 from last year's $0.57 per share. The business's revenue was up 1.0% compared to the same quarter previous year.

Richfield, Minnesota-based Best Buy has steadily gained market share for more than three years in a "slow-growth" consumer electronics environment, RBC Capital Markets analyst Scot Ciccarelli said earlier this month. If you are viewing this article on another domain, it was copied illegally and reposted in violation of global copyright and trademark law.

At the end of June reporting period, 233 institutional holders increased their position in Best Buy Co., Inc.

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A number of analysts have recently weighed in on the stock. (NYSE:BBY) is set to report quarterly earnings on 8/29/2017 8:30:00 AM.

As the earnings date approaches, we can see that insider ownership is now 0.40% shares, and institutional ownership is at 89.80% for Best Buy Co., Inc. American International Group Inc. now owns 10,846,704 shares of the technology retailer's stock worth $533,116,000 after buying an additional 142,042 shares in the last quarter. The stock was sold at an average price of $59.92, for a total transaction of $47,157.04. The stock witnessed 8.38% gains, 5.38% gains and 41.56% gains for the 1-month, 3-month and 6-month period, respectively.

COPYRIGHT VIOLATION WARNING: "Andra AP fonden Lowers Stake in Best Buy Co., Inc".

In the transaction dated August 21, 2017, the great number of shares disposed came courtesy the VP, Finance - Contr. & CAO; Watson Mathew disposed a total of 260 shares at an average price of $59.92, amounting to approximately $15,579. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hubert Joly sold 14,734 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $134,580.32. Following the sale, the chief financial officer now directly owns 54,159 shares in the company, valued at approximately $3,245,207.28. $357,983 worth of Best Buy Co Inc (NYSE:BBY) shares were sold by HIGGINS VICTOR KATHY J. The insider Walker Patricia H sold $597,091. Riverhead Capital Mgmt Ltd Co owns 492,702 shares for 1.3% of their portfolio. Next Grp invested 0% in Best Buy Co Inc (NYSE:BBY). The company is also rolling out a free service this fall where sales people sit with customers at their home to offer product recommendations. Royal State Bank Of Canada owns 756,639 shares.

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