As Best Buy Co INC (BBY) Market Value Rose, Mount Lucas Management LP Trimmed Its Holding by $3.23 Million

January 21, 2018 - By Vivian Park

Investors sentiment decreased to 0.76 in Q3 2017. Its down 0.03, from 0.79 in 2017Q2. It dropped, as 60 investors sold BBY shares while 189 reduced holdings. 54 funds opened positions while 136 raised stakes. 246.28 million shares or 2.83% less from 253.45 million shares in 2017Q2 were reported. Aperio Grp Lc stated it has 203,584 shares. Arrowmark Colorado Hldg Ltd stated it has 10,300 shares or 0.01% of all its holdings. Employees Retirement Sys Of Ohio reported 133,358 shares stake. Mount Lucas Lp reported 396,950 shares. Northwestern Mutual Wealth Management Communications holds 0% of its portfolio in Best Buy Co., Inc. (NYSE:BBY) for 3,448 shares. Renaissance has 0.14% invested in Best Buy Co., Inc. (NYSE:BBY). Wells Fargo & Mn stated it has 1.73 million shares or 0.03% of all its holdings. Fort LP holds 1.31% or 93,293 shares. Arizona State Retirement owns 208,978 shares. 749,543 were reported by Cornerstone Cap Management Lc. Us National Bank & Trust De holds 121,096 shares or 0.02% of its portfolio. Blair William & Il reported 23,964 shares or 0.01% of all its holdings. Assetmark invested in 0.01% or 19,241 shares. M&T Bancorporation holds 0.01% of its portfolio in Best Buy Co., Inc. (NYSE:BBY) for 27,480 shares. Fmr Ltd Llc stated it has 26.29M shares or 0.18% of all its holdings.

Since August 21, 2017, it had 0 insider buys, and 18 insider sales for $158.49 million activity. 2,433 shares were sold by Nelsen Keith J, worth $145,776. Scarlett Kathleen had sold 10,797 shares worth $566,694. $61,736 worth of stock was sold by Watson Mathew on Tuesday, September 5. 787 shares valued at $47,154 were sold by Barry Corie S on Monday, August 21. Ballard Shari L had sold 9,778 shares worth $534,681. Joly Hubert had sold 14,734 shares worth $882,802 on Monday, August 21.

Mount Lucas Management Lp decreased its stake in Best Buy Co Inc (BBY) by 12.7% based on its latest 2017Q3 regulatory filing with the SEC. Mount Lucas Management Lp sold 57,723 shares as the company’s stock rose 13.46% with the market. The institutional investor held 396,950 shares of the consumer services company at the end of 2017Q3, valued at $22.61M, down from 454,673 at the end of the previous reported quarter. Mount Lucas Management Lp who had been investing in Best Buy Co Inc for a number of months, seems to be less bullish one the $22.47 billion market cap company. The stock increased 2.91% or $2.17 during the last trading session, reaching $76.86. About 3.45 million shares traded. Best Buy Co., Inc. (NYSE:BBY) has risen 62.80% since January 21, 2017 and is uptrending. It has outperformed by 46.10% the S&P500.

Analysts await Best Buy Co., Inc. (NYSE:BBY) to report earnings on March, 7. They expect $1.98 EPS, up 1.54 % or $0.03 from last year’s $1.95 per share. BBY’s profit will be $578.80M for 9.70 P/E if the $1.98 EPS becomes a reality. After $0.78 actual EPS reported by Best Buy Co., Inc. for the previous quarter, Wall Street now forecasts 153.85 % EPS growth.

More news for Best Buy Co., Inc. (NYSE:BBY) were recently published by: Nasdaq.com, which released: “Can Best Buy (BBY) Rally Even Higher Post a 52-Week High?” on January 18, 2018. Investorplace.com‘s article titled: “3 Big Stock Charts for Wednesday: Apple Inc., Tesla Inc and Best Buy Co Inc” and published on December 27, 2017 is yet another important article.

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

Among 27 analysts covering Best Buy Co (NYSE:BBY), 10 have Buy rating, 4 Sell and 13 Hold. Therefore 37% are positive. Best Buy Co had 92 analyst reports since August 10, 2015 according to SRatingsIntel. Raymond James maintained Best Buy Co., Inc. (NYSE:BBY) on Wednesday, August 24 with “Buy” rating. On Friday, November 18 the stock rating was maintained by Wedbush with “Underperform”. The rating was maintained by RBC Capital Markets on Friday, January 15 with “Sector Perform”. Morgan Stanley downgraded Best Buy Co., Inc. (NYSE:BBY) on Tuesday, January 19 to “Equal-Weight” rating. Jefferies maintained the stock with “Hold” rating in Tuesday, July 4 report. RBC Capital Markets maintained the stock with “Sector Perform” rating in Thursday, March 2 report. Citigroup maintained it with “Neutral” rating and $40 target in Wednesday, August 24 report. The rating was downgraded by Jefferies on Monday, August 15 to “Hold”. RBC Capital Markets maintained Best Buy Co., Inc. (NYSE:BBY) rating on Wednesday, September 20. RBC Capital Markets has “Hold” rating and $57.0 target. Piper Jaffray downgraded the stock to “Neutral” rating in Friday, February 26 report.

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