Tyvor Capital Lowers stake in Best Buy Co Inc (BBY)

Best Buy Co Inc (BBY) : Tyvor Capital reduced its stake in Best Buy Co Inc by 34.97% during the most recent quarter end. The investment management company now holds a total of 794,322 shares of Best Buy Co Inc which is valued at $31,725,221 after selling 427,102 shares in Best Buy Co Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Best Buy Co Inc makes up approximately 7.65% of Tyvor Capital’s portfolio.

Other Hedge Funds, Including , Lebenthal Asset Management added BBY to its portfolio by purchasing 487 company shares during the most recent quarter which is valued at $19,451.Ls Investment Advisors reduced its stake in BBY by selling 2,499 shares or 23.28% in the most recent quarter. The Hedge Fund company now holds 8,237 shares of BBY which is valued at $321,820. Best Buy Co Inc makes up approx 0.02% of Ls Investment Advisors’s portfolio.Dekabank Deutsche Girozentrale reduced its stake in BBY by selling 16,282 shares or 16.4% in the most recent quarter. The Hedge Fund company now holds 83,014 shares of BBY which is valued at $3,243,357. Best Buy Co Inc makes up approx 0.04% of Dekabank Deutsche Girozentrale’s portfolio.Parsons Capital Management Incri reduced its stake in BBY by selling 9,000 shares or 55.21% in the most recent quarter. The Hedge Fund company now holds 7,300 shares of BBY which is valued at $278,787. Best Buy Co Inc makes up approx 0.04% of Parsons Capital Management Incri’s portfolio.Louisiana State Employees Retirement System reduced its stake in BBY by selling 900 shares or 4.86% in the most recent quarter. The Hedge Fund company now holds 17,600 shares of BBY which is valued at $690,976. Best Buy Co Inc makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.

Best Buy Co Inc closed down -1.2 points or -2.61% at $44.79 with 1,27,64,383 shares getting traded on Monday. Post opening the session at $45.68, the shares hit an intraday low of $44.67 and an intraday high of $45.68 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Best Buy Co Inc reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Nov 17, 2016. Analyst had a consensus of $0.47. The company had revenue of $8945.00 million for the quarter, compared to analysts expectations of $8850.50 million. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Investors should note that on Nov 18, 2016, Best Buy Co Inc announced a cash dividend of $0.2800. The company’s management has announced Dec 6, 2016 as the ex-dividend date and fixed the record date on Dec 8, 2016. The payable date has been fixed on Dec 29, 2016.

Many Wall Street Analysts have commented on Best Buy Co Inc. Company shares were Reiterated by Telsey Advisory Group on Nov 18, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $42 .Company shares were Reiterated by RBC Capital Mkts on Nov 18, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 47 from a previous price target of $42 .Company shares were Reiterated by Wedbush on Nov 18, 2016 to “Underperform”, Firm has raised the Price Target to $ 24.50 from a previous price target of $20.50 .

Best Buy Co. Inc. is a provider of technology products services and solutions. The Company 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 retail and online operations in the United States Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories operating e-commerce retail store and call center operations under a range of brand names including Best Buy (bestbuy.com) Best Buy Mobile Geek Squad Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition the Company operates Magnolia Home Theater Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.

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