Best Buy Co Inc (NYSE:BBY) certainly knows how to get their customers excited, especially for the holiday shopping season. With Christmas just four days away, it was announced yesterday that the company would be giving away a free Samsung 32″ Class (31.5″ Diagonal) LED HDTV with the purchase or lease and the subsequent activation of any Samsung Galaxy S6, S6 edge, or Note5.
Best Buy Co Inc (NYSE:BBY) is requiring customers to sign up to a 2-year contract, a lease through Sprint or an monthly plan with one of the big three cell phone carriers. The TV is valued at $229.99, and the deal will run until January 2, 2016.
The stock closed at $29.04 during the last trading session. It is down 17.24% since May 18, 2015 and is downtrending. It has underperformed the S&P500 by 14.98%.
From a total of 9 analysts covering Best Buy Co (NYSE:BBY) stock, 6 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 67% of the ratings are positive. The highest target price is $50 while the lowest target price is $33. The mean of all analyst targets is $38.07 which is 31.10% above today’s ($29.04) stock price. Best Buy Co was the topic of 19 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. UBS maintained shares on November 20 with a “Neutral” rating. Raymond James upgraded shares to a”Strong Buy” rating and a $40 target share price in their report from an August 26. Zacks upgraded BBY stock in a recent report from August 27 to a “Hold” rating. Vetr upgraded the rating on August 10. Vetr has a “Buy” rating and a $34.72 price target on shares. Finally, Telsey maintained the stock with a “Outperform” rating in a report they issued on an August 26.
The institutional sentiment decreased to 1.02 in Q2 2015. It’s down 0.13, from 1.15 in 2015Q2. The ratio is negative, as 50 funds sold all their Best Buy Co Inc shares they owned while 168 reduced their positions. 56 funds bought stakes while 166 increased their total positions. Institutions now own 299.53 million shares which is 0.95% more than the previous share count of 296.71 million in 2015Q2.
Aristotle Fund L.P. holds 24.18% of its total portfolio in Best Buy Co Inc, equating to 512,000 shares. Peconic Partners Llc owns 1.04 million shares representing 6.31% of their total US portfolio. Moreover, Minneapolis Portfolio Management Group Llc has 4.59% of their total portfolio invested in the company, equating to 738,846 shares. The Pennsylvania-based Mount Lucas Management Lp has a total of 3.96% of their portfolio invested in the stock. Decatur Capital Management Inc., a Georgia-based fund reported 393,075 shares owned.
Since February 25, 2015, the stock had 0 insider buys, and 7 sales for a total of $41.82 million in net activity. Schulze Richard M sold 197,500 shares worth $7.35M. Vittecoq Gerard R sold 10,974 shares worth $400,551. Nelsen Keith J sold 34,632 shares worth $1.32M. Mohan Rajendra M sold 40,000 shares worth $1.54 million. The insider Watson Mathew sold 800 shares worth $28,752.
Best Buy Co., Inc. is a provider of technology products, services and solutions. The company has a market cap of $9.95 billion. The Firm offers service to the consumers, small business owners and educators, who visit its stores, engage with Geek Squad agents or use its Websites or mobile applications. It has 12.06 P/E ratio. It has retail and online activities in the United States, Canada and Mexico.