Best Buy Co., Inc. (NYSE:BBY – Get Free Report) Chairman Richard M. Schulze sold 729,201 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the sale, the chairman now directly owns 196,100 shares of the company’s stock, valued at $14,305,495. The trade was a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Best Buy Price Performance
Shares of BBY stock opened at $72.63 on Thursday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.71. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 2.10 and a beta of 1.25. The stock has a fifty day simple moving average of $67.31 and a two-hundred day simple moving average of $77.95. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.
Best Buy (NYSE:BBY – Get Free Report) last issued its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.06. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.77 billion. During the same period in the prior year, the business earned $1.20 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.
Best Buy Announces Dividend
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in BBY. Pinnacle Bancorp Inc. raised its position in shares of Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 178 shares in the last quarter. Rakuten Securities Inc. increased its position in Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock valued at $29,000 after buying an additional 311 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new position in Best Buy during the 4th quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new position in Best Buy during the 4th quarter valued at about $32,000. Finally, Atlas Capital Advisors Inc. increased its position in Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock valued at $32,000 after buying an additional 243 shares in the last quarter. 80.96% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on BBY shares. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Tuesday. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Morgan Stanley lowered their price objective on Best Buy from $100.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Wedbush lowered their price objective on Best Buy from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. Finally, Wells Fargo & Company decreased their price target on Best Buy from $75.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.11.
View Our Latest Stock Analysis on BBY
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.
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