Best Buy Co., Inc. (NYSE:BBY) CFO Sells $3,784,200.00 in Stock

Best Buy Co., Inc. (NYSE:BBY) CFO Matthew M. Bilunas sold 51,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the transaction, the chief financial officer now owns 55,856 shares of the company’s stock, valued at approximately $4,144,515.20. The trade was a 47.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Best Buy Stock Up 0.2 %

NYSE BBY traded up $0.16 on Wednesday, hitting $74.78. The stock had a trading volume of 2,397,876 shares, compared to its average volume of 3,091,733. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The business’s fifty day moving average price is $83.01 and its 200 day moving average price is $88.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock has a market cap of $15.81 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. The company had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period last year, the business posted $2.72 earnings per share. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.08%. Best Buy’s payout ratio is 88.99%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BBY shares. Jefferies Financial Group lowered their target price on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of Best Buy from $100.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. UBS Group set a $105.00 price target on shares of Best Buy in a research note on Wednesday, March 5th. Telsey Advisory Group dropped their price objective on Best Buy from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Guggenheim decreased their target price on Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and a consensus target price of $93.50.

Hedge Funds Weigh In On Best Buy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Best Buy during the 4th quarter valued at about $514,483,000. Norges Bank purchased a new stake in Best Buy in the fourth quarter valued at approximately $178,015,000. Northern Trust Corp increased its holdings in Best Buy by 31.3% in the 4th quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer’s stock worth $252,495,000 after buying an additional 701,287 shares during the period. Invesco Ltd. raised its position in Best Buy by 20.5% during the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer’s stock worth $316,784,000 after buying an additional 629,180 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Best Buy by 101.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,114,928 shares of the technology retailer’s stock valued at $95,661,000 after acquiring an additional 561,413 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.