Best Buy Co., Inc. (NYSE:BBY) EVP Kathleen Scarlett Sells 25,071 Shares of Stock

Best Buy Co., Inc. (NYSE:BBYGet Rating) EVP Kathleen Scarlett sold 25,071 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $72.37, for a total transaction of $1,814,388.27. Following the completion of the sale, the executive vice president now directly owns 50,101 shares in the company, valued at $3,625,809.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Best Buy Trading Down 2.0 %

Shares of BBY stock opened at $68.57 on Friday. The company has a market capitalization of $15.44 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 0.65 and a beta of 1.50. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $75.71 and its two-hundred day moving average is $81.68. Best Buy Co., Inc. has a twelve month low of $64.29 and a twelve month high of $141.97.

Best Buy (NYSE:BBYGet Rating) last issued its quarterly earnings results on Tuesday, August 30th. The technology retailer reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.27. The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.25 billion. Best Buy had a return on equity of 57.98% and a net margin of 3.60%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the company earned $2.98 earnings per share. Equities analysts forecast that Best Buy Co., Inc. will post 6.17 EPS for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Tuesday, September 20th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.13%. Best Buy’s dividend payout ratio (DPR) is 47.18%.

Analyst Ratings Changes

Several research firms recently commented on BBY. UBS Group dropped their target price on Best Buy from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Citigroup raised their target price on Best Buy from $59.00 to $61.00 and gave the stock a “sell” rating in a research report on Wednesday, August 31st. Guggenheim lowered their price target on Best Buy from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday, August 1st. The Goldman Sachs Group reissued a “sell” rating and set a $82.00 price objective (down previously from $96.00) on shares of Best Buy in a report on Tuesday, June 7th. Finally, Wedbush upped their target price on shares of Best Buy from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.13.

Institutional Investors Weigh In On Best Buy

A number of hedge funds have recently added to or reduced their stakes in BBY. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Best Buy during the 1st quarter worth approximately $27,000. BerganKDV Wealth Management LLC lifted its holdings in Best Buy by 13,566.7% in the second quarter. BerganKDV Wealth Management LLC now owns 410 shares of the technology retailer’s stock valued at $27,000 after acquiring an additional 407 shares during the period. Clear Street Markets LLC boosted its position in shares of Best Buy by 376.4% during the 2nd quarter. Clear Street Markets LLC now owns 424 shares of the technology retailer’s stock worth $28,000 after purchasing an additional 335 shares in the last quarter. Adirondack Trust Co. acquired a new position in shares of Best Buy during the 1st quarter worth $30,000. Finally, Ellevest Inc. increased its holdings in shares of Best Buy by 91.1% in the 2nd quarter. Ellevest Inc. now owns 472 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 79.86% of the company’s stock.

About Best Buy

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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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