Best Buy (NYSE:BBY) CFO Corie S. Barry sold 399 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $72.45, for a total transaction of $28,907.55. Following the sale, the chief financial officer now owns 81,206 shares in the company, valued at approximately $5,883,374.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Best Buy stock opened at $70.49 on Friday. Best Buy has a 52 week low of $47.68 and a 52 week high of $78.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. The company has a market capitalization of $21,082.59, a P/E ratio of 15.95, a PEG ratio of 1.00 and a beta of 0.94.
Best Buy (NYSE:BBY) last released its earnings results on Thursday, March 1st. The technology retailer reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.37. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. The company had revenue of $15.36 billion during the quarter, compared to the consensus estimate of $14.52 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. equities analysts forecast that Best Buy will post 4.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 22nd will be given a $0.45 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.34. The ex-dividend date is Wednesday, March 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.55%. Best Buy’s dividend payout ratio is presently 40.72%.
BBY has been the topic of several analyst reports. Loop Capital set a $80.00 price target on shares of Best Buy and gave the company a “buy” rating in a research note on Tuesday, January 16th. ValuEngine upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Bank of America increased their price objective on shares of Best Buy from $78.00 to $87.00 and gave the company a “buy” rating in a report on Friday, March 2nd. Jefferies Group reiterated a “buy” rating and issued a $74.00 price objective (up from $60.00) on shares of Best Buy in a report on Tuesday, February 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $74.00 price objective (up from $66.00) on shares of Best Buy in a report on Friday, March 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.88.
A number of hedge funds have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board raised its holdings in shares of Best Buy by 6.3% during the 3rd quarter. State of Wisconsin Investment Board now owns 264,754 shares of the technology retailer’s stock valued at $15,080,000 after purchasing an additional 15,716 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Best Buy by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 607,302 shares of the technology retailer’s stock valued at $34,591,000 after purchasing an additional 17,948 shares in the last quarter. Global X MANAGEMENT CO LLC raised its holdings in shares of Best Buy by 14.2% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 18,964 shares of the technology retailer’s stock valued at $1,080,000 after purchasing an additional 2,352 shares in the last quarter. FDx Advisors Inc. bought a new position in shares of Best Buy during the 3rd quarter valued at $626,000. Finally, Sei Investments Co. raised its holdings in shares of Best Buy by 144.3% during the 3rd quarter. Sei Investments Co. now owns 84,969 shares of the technology retailer’s stock valued at $4,850,000 after purchasing an additional 50,184 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.
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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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