Best Buy Co., Inc. (NYSE:BBY) was the target of some unusual options trading activity on Wednesday. Stock investors bought 993 call options on the stock. This represents an increase of approximately 163% compared to the typical volume of 378 call options.
A number of analysts have weighed in on BBY shares. UBS reissued a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of Best Buy in a report on Thursday, August 31st. Deutsche Bank reissued a “buy” rating and issued a $58.00 price target (down from $60.00) on shares of Best Buy in a report on Thursday, August 31st. SunTrust Banks reaffirmed a “buy” rating on shares of Best Buy in a report on Thursday, August 31st. Loop Capital reaffirmed a “buy” rating and set a $72.00 price objective on shares of Best Buy in a report on Thursday, August 31st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $70.00 price objective on shares of Best Buy in a report on Wednesday, August 23rd. Four analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $58.81.
In other news, CFO Corie S. Barry sold 3,134 shares of the stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $57.26, for a total transaction of $179,452.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kathleen Scarlett sold 10,797 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total transaction of $566,734.53. Following the completion of the transaction, the insider now owns 25,690 shares in the company, valued at $1,348,468.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,098,184 shares of company stock valued at $124,544,562. 0.84% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in BBY. Spectrum Management Group Inc. increased its holdings in Best Buy by 25.7% during the second quarter. Spectrum Management Group Inc. now owns 21,515 shares of the technology retailer’s stock worth $1,233,000 after buying an additional 4,405 shares during the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in Best Buy during the second quarter worth $1,534,000. Commerzbank Aktiengesellschaft FI increased its holdings in Best Buy by 18.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 83,623 shares of the technology retailer’s stock worth $4,794,000 after buying an additional 13,150 shares during the last quarter. Viking Fund Management LLC increased its holdings in Best Buy by 66.7% during the third quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock worth $570,000 after buying an additional 4,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Best Buy by 23.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,179 shares of the technology retailer’s stock worth $10,330,000 after buying an additional 34,345 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.
Best Buy (NYSE BBY) traded down $0.57 during trading on Tuesday, reaching $61.98. 3,552,103 shares of the company traded hands, compared to its average volume of 4,474,940. Best Buy has a twelve month low of $41.67 and a twelve month high of $63.32. The company has a market cap of $17,641.90, a price-to-earnings ratio of 15.01, a price-to-earnings-growth 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 (NYSE:BBY) last released its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same quarter last year, the firm earned $0.60 EPS. Best Buy’s quarterly revenue was up 4.2% compared to the same quarter last year. research analysts anticipate that Best Buy will post 4.03 EPS for the current fiscal year.
The firm also recently disclosed 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 2.19%. The ex-dividend date is Wednesday, December 6th. Best Buy’s dividend payout ratio is presently 34.34%.
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Best Buy Company Profile
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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