Insider Selling: Best Buy Co., Inc. (NYSE:BBY) CFO Sells 6,065 Shares of Stock

Best Buy Co., Inc. (NYSE:BBYGet Rating) CFO Matthew M. Bilunas sold 6,065 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $80.68, for a total value of $489,324.20. Following the sale, the chief financial officer now directly owns 60,024 shares of the company’s stock, valued at $4,842,736.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Best Buy stock traded up $1.18 during trading hours on Thursday, reaching $81.26. The company had a trading volume of 2,226,625 shares, compared to its average volume of 3,329,586. Best Buy Co., Inc. has a one year low of $69.07 and a one year high of $141.97. The business has a fifty day simple moving average of $89.37 and a 200 day simple moving average of $98.36. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.24. The firm has a market cap of $18.28 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 0.98 and a beta of 1.42.

Best Buy (NYSE:BBYGet Rating) last posted 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). Best Buy had a return on equity of 63.39% and a net margin of 4.33%. The company had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the previous year, the business earned $2.23 earnings per share. Best Buy’s revenue was down 8.5% on a year-over-year basis. On average, research analysts forecast that Best Buy Co., Inc. will post 8.72 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Tuesday, June 14th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.33%. The ex-dividend date is Monday, June 13th. Best Buy’s dividend payout ratio is 39.07%.

A number of analysts recently commented on BBY shares. The Goldman Sachs Group decreased their price target on Best Buy from $96.00 to $82.00 and set a “sell” rating for the company in a research report on Thursday, May 26th. Truist Financial decreased their price target on Best Buy to $83.00 and set a “hold” rating for the company in a research report on Thursday, May 19th. Guggenheim decreased their price target on Best Buy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Morgan Stanley decreased their target price on Best Buy from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 25th. Finally, JPMorgan Chase & Co. decreased their target price on Best Buy from $134.00 to $107.00 and set a “buy” rating for the company in a research report on Monday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.88.

A number of large investors have recently bought and sold shares of the stock. Leuthold Group LLC boosted its stake in Best Buy by 0.3% during the third quarter. Leuthold Group LLC now owns 26,301 shares of the technology retailer’s stock valued at $2,780,000 after buying an additional 81 shares during the period. Cetera Investment Advisers lifted its stake in Best Buy by 2.0% during the third quarter. Cetera Investment Advisers now owns 4,332 shares of the technology retailer’s stock worth $458,000 after purchasing an additional 83 shares during the last quarter. MML Investors Services LLC lifted its stake in Best Buy by 1.3% during the third quarter. MML Investors Services LLC now owns 6,620 shares of the technology retailer’s stock worth $700,000 after purchasing an additional 84 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its stake in Best Buy by 65.4% during the third quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC lifted its stake in Best Buy by 4.2% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 2,627 shares of the technology retailer’s stock worth $267,000 after purchasing an additional 106 shares during the last quarter. 80.79% of the stock is owned by institutional investors.

Best Buy Company Profile (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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