Best Buy Co., Inc. (NYSE:BBY) EVP Sells $503,201.16 in Stock

Best Buy Co., Inc. (NYSE:BBYGet Rating) EVP Kathleen Scarlett sold 6,237 shares of Best Buy stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $80.68, for a total value of $503,201.16. Following the sale, the executive vice president now directly owns 69,538 shares of the company’s stock, valued at approximately $5,610,325.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kathleen Scarlett also recently made the following trade(s):

  • On Tuesday, March 22nd, Kathleen Scarlett sold 3,338 shares of Best Buy stock. The stock was sold at an average price of $99.06, for a total value of $330,662.28.

BBY traded up $1.18 during midday trading on Thursday, reaching $81.26. 2,226,625 shares of the company’s stock traded hands, compared to its average volume of 3,329,586. The firm has a fifty day moving average of $89.37 and a two-hundred day moving average of $98.36. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.98 and a beta of 1.42. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.24. Best Buy Co., Inc. has a 52 week low of $69.07 and a 52 week high of $141.97.

Best Buy (NYSE:BBYGet Rating) last released its quarterly earnings results on Tuesday, May 24th. The technology retailer reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.04). The business had revenue of $10.65 billion for the quarter, compared to the consensus estimate of $10.43 billion. Best Buy had a net margin of 4.33% and a return on equity of 63.39%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.23 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 8.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Tuesday, June 14th will be issued a dividend of $0.88 per share. The ex-dividend date is Monday, June 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.33%. Best Buy’s dividend payout ratio (DPR) is 39.07%.

Several hedge funds have recently bought and sold shares of BBY. Counterpoint Mutual Funds LLC purchased a new position in shares of Best Buy during the 4th quarter worth approximately $25,000. Stonebridge Capital Advisors LLC grew its holdings in shares of Best Buy by 65.4% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer’s stock worth $27,000 after acquiring an additional 100 shares during the period. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Best Buy during the 1st quarter worth approximately $27,000. Concord Wealth Partners grew its holdings in shares of Best Buy by 1,016.0% during the 4th quarter. Concord Wealth Partners now owns 279 shares of the technology retailer’s stock worth $28,000 after acquiring an additional 254 shares during the period. Finally, Jacobi Capital Management LLC purchased a new position in shares of Best Buy during the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 80.79% of the company’s stock.

BBY has been the subject of several research analyst reports. Barclays lowered Best Buy from an “overweight” rating to an “equal weight” rating and set a $80.00 price target for the company. in a research note on Wednesday, May 25th. Wells Fargo & Company dropped their price target on Best Buy to $82.00 in a research note on Wednesday, May 25th. Wedbush dropped their price target on Best Buy from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. JPMorgan Chase & Co. lowered their target price on Best Buy from $134.00 to $107.00 and set a “buy” rating for the company in a research note on Monday, February 28th. Finally, Guggenheim lowered their target price on Best Buy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Best Buy has an average rating of “Hold” and a consensus price target of $94.88.

About Best Buy (Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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