Insider Selling: Best Buy Co Inc (NYSE:BBY) CAO Sells 801 Shares of Stock

Best Buy Co Inc (NYSE:BBY) CAO Mathew Watson sold 801 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $51.75, for a total transaction of $41,451.75. Following the completion of the transaction, the chief accounting officer now owns 24,907 shares of the company’s stock, valued at $1,288,937.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mathew Watson also recently made the following trade(s):

  • On Monday, March 16th, Mathew Watson sold 806 shares of Best Buy stock. The shares were sold at an average price of $54.42, for a total transaction of $43,862.52.
  • On Friday, March 13th, Mathew Watson sold 603 shares of Best Buy stock. The shares were sold at an average price of $56.89, for a total transaction of $34,304.67.

Shares of NYSE:BBY opened at $60.56 on Thursday. The stock has a market capitalization of $15.32 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. Best Buy Co Inc has a 1-year low of $48.10 and a 1-year high of $91.99. The company’s fifty day moving average is $76.28 and its two-hundred day moving average is $77.54. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.46 and a current ratio of 1.10.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, February 27th. The technology retailer reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.15. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.05 billion. Best Buy had a net margin of 3.53% and a return on equity of 49.17%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.72 earnings per share. Sell-side analysts expect that Best Buy Co Inc will post 6.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.63%. This is a boost from Best Buy’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, March 18th. Best Buy’s dividend payout ratio is 36.24%.

Several large investors have recently modified their holdings of the business. Cresset Asset Management LLC acquired a new stake in shares of Best Buy in the 4th quarter worth about $252,000. Bessemer Group Inc. increased its holdings in shares of Best Buy by 24.8% in the 4th quarter. Bessemer Group Inc. now owns 7,485 shares of the technology retailer’s stock worth $658,000 after acquiring an additional 1,486 shares during the period. Equitable Trust Co. increased its holdings in shares of Best Buy by 7.1% in the 3rd quarter. Equitable Trust Co. now owns 19,274 shares of the technology retailer’s stock worth $1,330,000 after acquiring an additional 1,275 shares during the period. California State Teachers Retirement System increased its holdings in shares of Best Buy by 0.7% in the 3rd quarter. California State Teachers Retirement System now owns 429,902 shares of the technology retailer’s stock worth $29,659,000 after acquiring an additional 2,984 shares during the period. Finally, Voloridge Investment Management LLC increased its holdings in shares of Best Buy by 47.0% in the 3rd quarter. Voloridge Investment Management LLC now owns 38,614 shares of the technology retailer’s stock worth $2,664,000 after acquiring an additional 12,345 shares during the period. 78.59% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on BBY. Barclays reaffirmed a “buy” rating and issued a $75.00 price target on shares of Best Buy in a report on Tuesday, March 17th. Nomura reaffirmed a “buy” rating and issued a price target (down from ) on shares of Best Buy in a report on Tuesday. Jefferies Financial Group upped their price target on shares of Best Buy from $91.00 to $101.00 and gave the company a “buy” rating in a report on Monday, January 6th. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price target (up from $90.00) on shares of Best Buy in a report on Thursday, January 9th. Finally, Loop Capital upped their price target on shares of Best Buy from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $83.18.

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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Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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