39,916 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Affinity Investment Advisors LLC

Affinity Investment Advisors LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,916 shares of the technology retailer’s stock, valued at approximately $2,288,000.

Several other large investors also recently added to or reduced their stakes in BBY. Vanguard Group Inc. boosted its stake in Best Buy Co. by 4.0% in the first quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock valued at $1,602,962,000 after buying an additional 1,241,888 shares during the period. BlackRock Inc. boosted its position in Best Buy Co. by 1,859.1% in the first quarter. BlackRock Inc. now owns 20,064,628 shares of the technology retailer’s stock valued at $986,174,000 after buying an additional 19,040,478 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Best Buy Co. by 6.5% in the first quarter. JPMorgan Chase & Co. now owns 14,724,133 shares of the technology retailer’s stock valued at $723,692,000 after buying an additional 898,300 shares during the last quarter. State Street Corp boosted its position in Best Buy Co. by 1.9% in the first quarter. State Street Corp now owns 13,700,994 shares of the technology retailer’s stock valued at $673,407,000 after buying an additional 250,469 shares during the last quarter. Finally, American International Group Inc. boosted its position in Best Buy Co. by 1.3% in the first quarter. American International Group Inc. now owns 10,846,704 shares of the technology retailer’s stock valued at $533,116,000 after buying an additional 142,042 shares during the last quarter. Institutional investors and hedge funds own 92.46% of the company’s stock.

Best Buy Co., Inc. (BBY) opened at 60.71 on Tuesday. The company’s 50-day moving average price is $57.32 and its 200 day moving average price is $51.54. Best Buy Co., Inc. has a 52-week low of $32.20 and a 52-week high of $62.36. The stock has a market capitalization of $18.51 billion, a P/E ratio of 16.33 and a beta of 1.45.

Best Buy Co. (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.28 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. Best Buy Co.’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Best Buy Co., Inc. will post $3.89 earnings per share for the current year.

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BBY has been the subject of several research analyst reports. Bank of America Corporation upgraded Best Buy Co. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a research report on Tuesday, April 25th. Loop Capital upgraded Best Buy Co. from a “sell” rating to a “hold” rating and cut their price objective for the stock from $37.00 to $35.00 in a research report on Monday, May 15th. Deutsche Bank AG reiterated a “buy” rating and issued a $60.00 price objective on shares of Best Buy Co. in a research report on Monday, June 5th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a research report on Thursday, May 25th. Finally, Sanford C. Bernstein set a $47.00 price objective on Best Buy Co. and gave the stock a “sell” rating in a research report on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $56.76.

In other news, VP Mathew Watson sold 758 shares of Best Buy Co. 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 transaction, the vice president now owns 19,172 shares in the company, valued at $993,493.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Keith J. Nelsen sold 55,153 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $59.01, for a total value of $3,254,578.53. Following the completion of the transaction, the general counsel now owns 89,306 shares in the company, valued at approximately $5,269,947.06. 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. 0.84% 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.