Could Best Buy Co Inc Change Direction After Today’s Bullish Options Activity?

 Could Best Buy Co Inc Change Direction After Today's Bullish Options Activity?

In today’s session Best Buy Co Inc (BBY) registered an unusually high (292) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious BBY increase. With 292 contracts traded and 694 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: BBY161216C00047500 closed last at: $0.9 or 15.1% down. About 1.08M shares traded hands. Best Buy Co Inc (NYSE:BBY) has risen 36.74% since April 26, 2016 and is uptrending. It has outperformed by 31.48% the S&P500.

Analysts await Best Buy Co Inc (NYSE:BBY) to report earnings on February, 23. They expect $1.65 EPS, up 7.84% or $0.12 from last year’s $1.53 per share. BBY’s profit will be $509.49 million for 6.95 P/E if the $1.65 EPS becomes a reality. After $0.62 actual EPS reported by Best Buy Co Inc for the previous quarter, Wall Street now forecasts 166.13% EPS growth.

Best Buy Co Inc (NYSE:BBY) Ratings Coverage

Out of 20 analysts covering Best Buy Co (NYSE:BBY), 6 rate it a “Buy”, 2 “Sell”, while 12 “Hold”. This means 30% are positive. Best Buy Co has been the topic of 52 analyst reports since August 10, 2015 according to StockzIntelligence Inc. On Wednesday, August 26 the stock rating was maintained by UBS with “Neutral”. As per Wednesday, August 24, the company rating was maintained by SunTrust. RBC Capital Markets maintained Best Buy Co Inc (NYSE:BBY) on Friday, February 26 with “Sector Perform” rating. The stock has “Underperform” rating given by Wedbush on Friday, February 26. RBC Capital Markets maintained it with “Buy” rating and $42 target price in Wednesday, August 26 report. UBS maintained Best Buy Co Inc (NYSE:BBY) rating on Wednesday, August 24. UBS has “Neutral” rating and $38 price target. The firm earned “Neutral” rating on Wednesday, May 25 by Citigroup. The firm has “Underperform” rating by Wedbush given on Friday, January 15. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, January 15. RBC Capital Markets downgraded the shares of BBY in a report on Monday, November 16 to “Sector Perform” rating.

According to Zacks Investment Research, “Best Buy operates in a single business segment, selling personal computers and other home office products, consumer electronics, entertainment software, major appliances and related accessories principally through its retail stores. They operate retail stores and commercial Websites under the brand names Best Buy, Media Play, On Cue, Sam Goody, Suncoast, Magnolia Hi-Fi and Future Shop. They also operate in three segments: Best Buy, Musicland and International.”

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.07, from 1.07 in 2016Q1. The ratio turned negative, as 44 funds sold all Best Buy Co Inc shares owned while 139 reduced positions. 42 funds bought stakes while 153 increased positions. They now own 263.98 million shares or 4.84% less from 277.42 million shares in 2016Q1.
Macquarie Group Limited reported 9,000 shares or 0% of all its holdings. Chevy Chase Trust holds 241,476 shares or 0.04% of its portfolio. Todd Asset Ltd Liability Corporation reported 433,909 shares or 0.42% of all its holdings. Employees Retirement Association Of Colorado accumulated 61,580 shares or 0.02% of the stock. Piermont Mgmt owns 14,110 shares or 0.11% of their US portfolio. Everence Capital Mngmt has 0.07% invested in the company for 7,220 shares. Investec Asset Management Limited, a United Kingdom-based fund reported 2.63 million shares. Royal London Asset Management last reported 0.08% of its portfolio in the stock. Glenmede Co Na has 974 shares for 0% of their US portfolio. Clinton Gp Inc accumulated 94,604 shares or 0.13% of the stock. Natl Pension Ser last reported 0.07% of its portfolio in the stock. Delta Lloyd Nv last reported 17,358 shares in the company. Ftb Advisors Inc last reported 0.52% of its portfolio in the stock. Lsv Asset Mngmt has 0.11% invested in the company for 1.73M shares. Alpha Windward Limited Liability Company, a Massachusetts-based fund reported 1,011 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 7 insider sales for $21.72 million net activity. The insider HIGGINS VICTOR KATHY J sold $682,502. Watson Mathew had sold 1,363 shares worth $43,751. Another trade for 61,386 shares valued at $2.79M was sold by MOHAN RAJENDRA M. Ballard Shari L sold $7.00 million worth of stock or 181,362 shares. Shares for $2.31 million were sold by Nelsen Keith J on Wednesday, August 31.

Best Buy Co., Inc. is a provider of technology products, services and solutions. The company has a market cap of $14.17 billion. The Firm offers services and products to the clients visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It has a 14.1 P/E ratio. It operates through two divisions: Domestic and International.

BBY Company Profile

Best Buy Co., Inc., incorporated on October 20, 1966, is a well-known provider of technology products, services and solutions. The Firm offers services and products to the clients visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has activities in the United States, Canada and Mexico. The Firm operates through two divisions: Domestic and International. The Domestic segment consists of the activities in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home. The International segment consists of all activities in Canada and Mexico under the brand names, Best Buy, bestbuy.com.ca, bestbuy.com.mx, Best Buy Express, Best Buy Mobile and Geek Squad. The Firm operates approximately 1,200 large-format and over 400 small-format stores throughout its Domestic and International divisions. It has a global sourcing operation to design, develop, test and contract-manufacture its brand products.

More important recent Best Buy Co Inc (NYSE:BBY) news were published by: Fool.com which released: “Why Best Buy Co., Inc. Stock Soared Today” on November 17, 2016, also Investorplace.com published article titled: “Google Shop Launches: Alphabet Inc (GOOGL) Partners With Best Buy Co Inc (BBY)”, Investorplace.com published: “3 Big Stock Charts for Wednesday: Best Buy Co Inc (BBY), Darden Restaurants …” on November 23, 2016. More interesting news about Best Buy Co Inc (NYSE:BBY) was released by: Investorplace.com and their article: “Best Buy Co Inc (BBY) Stock Is No Holiday Bargain” with publication date: November 14, 2016.

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