Best Buy Co Inc (NYSE:BBY) CFO Corie S. Barry sold 399 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $72.45, for a total transaction of $28,907.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Best Buy Co Inc (BBY) traded down $1.62 during midday trading on Wednesday, hitting $69.90. 5,157,413 shares of the stock were exchanged, compared to its average volume of 4,120,000. The firm has a market cap of $20,430.00, a P/E ratio of 16.52, a P/E/G ratio of 1.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. Best Buy Co Inc has a fifty-two week low of $43.72 and a fifty-two week high of $78.59.
Best Buy (NYSE:BBY) last posted its earnings results on Thursday, March 1st. The technology retailer reported $2.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.37. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. The firm had revenue of $15.36 billion during the quarter, compared to the consensus estimate of $14.52 billion. During the same quarter last year, the firm earned $1.93 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. equities research analysts forecast that Best Buy Co Inc will post 4.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 22nd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.58%. The ex-dividend date is Wednesday, March 21st. This is an increase from Best Buy’s previous quarterly dividend of $0.34. Best Buy’s dividend payout ratio (DPR) is 32.15%.
A number of institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. increased its holdings in Best Buy by 15.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the technology retailer’s stock valued at $357,000 after purchasing an additional 689 shares during the last quarter. Community Bank & Trust Waco Texas increased its holdings in Best Buy by 5.5% in the 4th quarter. Community Bank & Trust Waco Texas now owns 15,205 shares of the technology retailer’s stock valued at $1,041,000 after purchasing an additional 789 shares during the last quarter. New Mexico Educational Retirement Board increased its holdings in Best Buy by 3.7% in the 4th quarter. New Mexico Educational Retirement Board now owns 25,521 shares of the technology retailer’s stock valued at $1,747,000 after purchasing an additional 900 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Best Buy by 9.5% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,556 shares of the technology retailer’s stock valued at $601,000 after purchasing an additional 920 shares during the last quarter. Finally, ARGI Investment Services LLC increased its holdings in Best Buy by 6.1% in the 3rd quarter. ARGI Investment Services LLC now owns 16,310 shares of the technology retailer’s stock valued at $926,000 after purchasing an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 85.73% of the company’s stock.
A number of research firms have weighed in on BBY. Loop Capital set a $80.00 target price on shares of Best Buy and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Wedbush reissued an “underperform” rating and issued a $48.00 target price (up from $45.00) on shares of Best Buy in a research note on Monday, March 5th. Moffett Nathanson began coverage on shares of Best Buy in a research note on Monday, December 4th. They issued a “sell” rating on the stock. Oppenheimer reissued a “hold” rating on shares of Best Buy in a research note on Thursday, November 16th. Finally, Bank of America raised their target price on shares of Best Buy from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Best Buy presently has an average rating of “Hold” and an average price target of $69.25.
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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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