What’s in Best Buy CO Inc (NYSE:BBY) After Decline in Shorted Shares?

April 19, 2018 - By Dolores Ford

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.
Pitcairn, Pennsylvania-based fund reported 49,471 shares. Proshare Advisors Limited Liability has invested 0.03% in Best Buy Co., Inc. (NYSE:BBY). First Midwest Commercial Bank Division accumulated 25,258 shares or 0.22% of the stock. Norinchukin Comml Bank The, a Japan-based fund reported 31,333 shares. Strategy Asset Managers invested 0.61% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). Accuvest Advisors stated it has 0.04% in Best Buy Co., Inc. (NYSE:BBY). 863 were accumulated by Atlantic Trust Group Ltd Company. Nomura Asset Management reported 0.04% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). Tarbox Family Office Incorporated reported 76 shares. The Ontario – Canada-based Cibc Asset Mgmt has invested 0.01% in Best Buy Co., Inc. (NYSE:BBY). Bremer Natl Association accumulated 0.08% or 4,158 shares. State Of Wisconsin Invest Board reported 0.05% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). Amundi Pioneer Asset Mgmt reported 0.13% stake. Blackrock owns 18.95 million shares. 393,756 are owned by Canada Pension Plan Invest Board.

Since December 12, 2017, it had 0 insider purchases, and 29 insider sales for $53.31 million activity. The insider Walker Patricia H sold $126,540. Ballard Shari L had sold 3,475 shares worth $251,753. The insider Nelsen Keith J sold 2,022 shares worth $142,543. Shares for $12.83 million were sold by SCHULZE RICHARD M on Tuesday, December 12. On Monday, March 12 the insider Barry Corie S sold $28,906. $1.76 million worth of stock was sold by VITTECOQ GERARD R on Friday, March 2.

The stock of Best Buy CO Inc (NYSE:BBY) registered a decrease of 3.19% in short interest. BBY’s total short interest was 31.93 million shares in April as published by FINRA. Its down 3.19% from 32.98 million shares, reported previously. With 3.70M 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 12.54%.

The stock increased 3.64% or $2.65 during the last trading session, reaching $75.4. About 4.50M shares traded or 23.19% up from the average. Best Buy Co., Inc. (NYSE:BBY) has risen 46.62% since April 19, 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 $21.32 billion. The firm operates through two reportable divisions, Domestic and International. It has a 23.11 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 15 analysts covering Best Buy Co (NYSE:BBY), 4 have Buy rating, 2 Sell and 9 Hold. Therefore 27% are positive. Best Buy Co has $87 highest and $33.0 lowest target. $72.31’s average target is -4.10% below currents $75.4 stock price. Best Buy Co had 20 analyst reports since October 24, 2017 according to SRatingsIntel. The rating was maintained by RBC Capital Markets on Thursday, March 1 with “Hold”. Credit Suisse maintained Best Buy Co., Inc. (NYSE:BBY) rating on Monday, March 5. Credit Suisse has “Hold” rating and $74.0 target. Wedbush maintained it with “Sell” rating and $38.0 target in Monday, February 26 report. On Tuesday, February 27 the stock rating was maintained by Jefferies with “Hold”. The company was maintained on Friday, March 2 by Bank of America. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, March 2. The stock of Best Buy Co., Inc. (NYSE:BBY) has “Neutral” rating given on Friday, March 2 by UBS. The rating was maintained by Telsey Advisory on Friday, March 2 with “Hold”. The stock has “Hold” rating by Deutsche Bank on Friday, November 17. The company was maintained on Monday, February 12 by RBC Capital Markets.

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

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