Best Buy Co., Inc. (NYSE:BBY) major shareholder Richard M. Schulze sold 935,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $60.18, for a total transaction of $56,268,300.00. Following the completion of the sale, the insider now owns 1,732,500 shares of the company’s stock, valued at $104,261,850. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Best Buy Co., Inc. (NYSE BBY) traded up $2.20 during trading hours on Tuesday, hitting $62.55. 6,917,800 shares of the stock were exchanged, compared to its average volume of 4,478,901. The stock has a market cap of $17,641.90, a P/E ratio of 15.01, a PEG ratio of 1.25 and a beta of 1.40. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Best Buy Co., Inc. has a 12-month low of $41.67 and a 12-month high of $63.32.
Best Buy (NYSE:BBY) last released its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. analysts expect that Best Buy Co., Inc. will post 4.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, December 6th. Best Buy’s dividend payout ratio is presently 34.34%.
Several large investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Best Buy by 0.3% during the 2nd quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock valued at $860,000 after purchasing an additional 48 shares during the last quarter. Advisor Group Inc. grew its position in Best Buy by 1.2% during the 2nd quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock valued at $265,000 after purchasing an additional 55 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Best Buy by 6.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after purchasing an additional 163 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Best Buy by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock valued at $576,000 after purchasing an additional 170 shares during the last quarter. Finally, Financial Advisors Network Inc. grew its position in Best Buy by 2.3% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock valued at $433,000 after purchasing an additional 172 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on BBY. Oppenheimer restated a “hold” rating on shares of Best Buy in a report on Tuesday, August 29th. BidaskClub upgraded shares of Best Buy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Barclays reiterated a “buy” rating and set a $65.00 price target on shares of Best Buy in a report on Monday, August 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 price target on shares of Best Buy in a report on Wednesday, August 23rd. Finally, Jefferies Group reiterated a “hold” rating and set a $60.00 price target on shares of Best Buy in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.81.
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About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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