Best Buy Co Inc (NYSE:BBY) insider Todd G. Hartman sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.91, for a total value of $161,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
NYSE BBY traded down $1.44 during trading hours on Monday, hitting $79.20. 4,328,637 shares of the company were exchanged, compared to its average volume of 2,922,608. The stock has a 50-day moving average price of $73.72 and a 200 day moving average price of $69.71. The company has a quick ratio of 0.27, a current ratio of 1.05 and a debt-to-equity ratio of 1.10. Best Buy Co Inc has a 52 week low of $47.72 and a 52 week high of $83.63. The stock has a market cap of $21.25 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.10. Best Buy had a return on equity of 49.43% and a net margin of 3.54%. The company had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.71 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Best Buy Co Inc will post 5.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. Best Buy’s dividend payout ratio is 37.59%.
A number of research firms recently commented on BBY. Wolfe Research began coverage on Best Buy in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price on the stock. Piper Jaffray Companies upgraded Best Buy to a “buy” rating and boosted their target price for the stock from $86.00 to $97.00 in a research report on Wednesday, November 27th. Guggenheim upgraded Best Buy to a “buy” rating and boosted their target price for the stock from $80.00 to $90.00 in a research report on Wednesday, November 27th. Raymond James reiterated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research report on Wednesday, November 27th. Finally, ValuEngine downgraded Best Buy from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $82.47.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Best Buy by 3.7% during the second quarter. Vanguard Group Inc. now owns 27,605,353 shares of the technology retailer’s stock valued at $1,924,922,000 after buying an additional 993,608 shares during the last quarter. BlackRock Inc. grew its stake in shares of Best Buy by 4.4% during the second quarter. BlackRock Inc. now owns 18,179,382 shares of the technology retailer’s stock valued at $1,267,648,000 after buying an additional 772,762 shares during the last quarter. Invesco Ltd. grew its stake in shares of Best Buy by 289.7% during the second quarter. Invesco Ltd. now owns 4,918,106 shares of the technology retailer’s stock valued at $342,938,000 after buying an additional 3,656,220 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Best Buy by 40.6% during the second quarter. AQR Capital Management LLC now owns 4,797,656 shares of the technology retailer’s stock valued at $330,991,000 after buying an additional 1,385,457 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Best Buy by 5.1% during the second quarter. Northern Trust Corp now owns 3,839,801 shares of the technology retailer’s stock valued at $267,750,000 after buying an additional 187,894 shares during the last quarter. 75.60% of the stock is currently owned by hedge funds and other institutional investors.
About Best Buy
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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