Insider Selling: Best Buy Co Inc (NYSE:BBY) Insider Sells $126,000.00 in Stock

Best Buy Co Inc (NYSE:BBY) insider Todd G. Hartman sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $105.00, for a total value of $126,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

BBY opened at $104.77 on Friday. The stock has a market cap of $27.12 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.78 and a beta of 1.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.06 and a quick ratio of 0.65. The stock’s 50 day simple moving average is $108.20 and its 200 day simple moving average is $84.51. Best Buy Co Inc has a 1-year low of $48.10 and a 1-year high of $119.48.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 25th. The technology retailer reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.62. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Best Buy had a return on equity of 48.82% and a net margin of 3.75%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. Research analysts expect that Best Buy Co Inc will post 7.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, September 14th. Best Buy’s dividend payout ratio (DPR) is presently 36.24%.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Best Buy by 6.0% during the 2nd quarter. Vanguard Group Inc. now owns 29,346,566 shares of the technology retailer’s stock valued at $2,561,075,000 after buying an additional 1,662,640 shares during the last quarter. AQR Capital Management LLC grew its holdings in Best Buy by 15.7% during the 2nd quarter. AQR Capital Management LLC now owns 4,680,402 shares of the technology retailer’s stock valued at $406,540,000 after buying an additional 636,272 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Best Buy by 26.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,899,726 shares of the technology retailer’s stock valued at $222,287,000 after buying an additional 819,725 shares during the last quarter. Geode Capital Management LLC grew its holdings in Best Buy by 2.8% during the 1st quarter. Geode Capital Management LLC now owns 3,820,116 shares of the technology retailer’s stock valued at $217,385,000 after buying an additional 105,152 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in Best Buy by 65.7% during the 1st quarter. APG Asset Management N.V. now owns 3,221,797 shares of the technology retailer’s stock valued at $203,893,000 after buying an additional 1,277,308 shares during the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.

BBY has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Best Buy from $80.00 to $92.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Raymond James reaffirmed a “buy” rating on shares of Best Buy in a research note on Tuesday, August 25th. Zacks Investment Research reaffirmed a “buy” rating on shares of Best Buy in a research note on Tuesday, July 28th. Piper Sandler increased their target price on Best Buy from $112.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley increased their target price on Best Buy from $85.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $100.48.

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.

Further Reading: Limitations of the P/E Growth ratio

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

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