Best Buy Co., Inc. (NYSE:BBY) CEO Corie S. Barry Sells 366 Shares

Best Buy Co., Inc. (NYSE:BBY) CEO Corie S. Barry sold 366 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Best Buy Stock Performance

Best Buy stock opened at $76.15 on Friday. The company has a 50 day moving average price of $77.96 and a 200-day moving average price of $73.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $86.11. The company has a market capitalization of $16.40 billion, a PE ratio of 13.38, a P/E/G ratio of 1.99 and a beta of 1.49.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. During the same quarter in the previous year, the firm posted $2.61 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.94%. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. Best Buy’s dividend payout ratio (DPR) is presently 66.08%.

Hedge Funds Weigh In On Best Buy

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Best Buy by 1.2% during the first quarter. BlackRock Inc. now owns 19,612,957 shares of the technology retailer’s stock valued at $1,535,106,000 after buying an additional 223,536 shares during the period. State Street Corp increased its holdings in Best Buy by 1.2% during the first quarter. State Street Corp now owns 10,152,129 shares of the technology retailer’s stock valued at $803,778,000 after buying an additional 123,256 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Best Buy by 32.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,885,308 shares of the technology retailer’s stock valued at $773,724,000 after buying an additional 2,409,006 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Best Buy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,478,759 shares of the technology retailer’s stock valued at $311,139,000 after buying an additional 66,770 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Best Buy by 0.7% in the first quarter. Geode Capital Management LLC now owns 4,218,968 shares of the technology retailer’s stock worth $329,735,000 after purchasing an additional 27,257 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BBY. Jefferies Financial Group lowered their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Monday, April 8th. Wedbush increased their price target on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Telsey Advisory Group raised shares of Best Buy from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $85.00 to $95.00 in a research note on Wednesday, March 20th. TheStreet raised shares of Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Finally, Truist Financial raised their price objective on shares of Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.60.

Best Buy Company Profile

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.