Best Buy Co Inc (NYSE:BBY) CEO Corie S. Barry sold 2,191 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $51.75, for a total value of $113,384.25. Following the transaction, the chief executive officer now owns 145,324 shares in the company, valued at approximately $7,520,517. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of BBY stock opened at $62.88 on Friday. The business’s 50 day moving average is $75.76 and its two-hundred day moving average is $77.52. Best Buy Co Inc has a twelve month low of $48.10 and a twelve month high of $91.99. The company has a market capitalization of $15.67 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 0.98.
Best Buy (NYSE:BBY) last announced its earnings results on Thursday, February 27th. The technology retailer reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.15. Best Buy had a return on equity of 49.17% and a net margin of 3.53%. The company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.05 billion. During the same period last year, the business posted $2.72 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Best Buy Co Inc will post 6.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be paid a $0.55 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, March 18th. Best Buy’s dividend payout ratio (DPR) is 36.24%.
A number of research analysts recently issued reports on BBY shares. Telsey Advisory Group restated a “market perform” rating on shares of Best Buy in a research note on Monday, February 24th. Morgan Stanley dropped their price target on Best Buy from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 17th. Oppenheimer restated a “buy” rating and set a $105.00 price target (up previously from $86.00) on shares of Best Buy in a research note on Friday, February 7th. Nomura restated a “buy” rating and set a price target (down previously from ) on shares of Best Buy in a research note on Tuesday. Finally, Wells Fargo & Co dropped their price target on Best Buy from $85.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.18.
Hedge funds have recently made changes to their positions in the business. American International Group Inc. raised its holdings in Best Buy by 3,234.6% during the fourth quarter. American International Group Inc. now owns 4,132,941 shares of the technology retailer’s stock worth $362,872,000 after purchasing an additional 4,009,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in Best Buy by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,714,964 shares of the technology retailer’s stock worth $325,549,000 after purchasing an additional 43,226 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Best Buy by 10.9% during the fourth quarter. Nuveen Asset Management LLC now owns 3,337,961 shares of the technology retailer’s stock worth $293,073,000 after purchasing an additional 329,043 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Best Buy by 61.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,080,001 shares of the technology retailer’s stock worth $270,425,000 after purchasing an additional 1,168,359 shares during the last quarter. Finally, Norges Bank acquired a new position in Best Buy during the fourth quarter worth $247,638,000. Institutional investors own 78.59% of the company’s stock.
Best Buy Company Profile
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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