Corie S. Barry Sells 366 Shares of Best Buy Co., Inc. (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) CEO Corie S. Barry sold 366 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the sale, the chief executive officer now owns 431,231 shares in the company, valued at approximately $32,670,060.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Best Buy Stock Performance

Shares of BBY opened at $76.15 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.98 and a beta of 1.49. The stock has a 50 day moving average of $77.96 and a 200 day moving average of $73.94. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. During the same period last year, the business posted $2.61 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were paid a dividend of $0.94 per share. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 annualized dividend and a yield of 4.94%. Best Buy’s dividend payout ratio (DPR) is currently 66.08%.

Institutional Investors Weigh In On Best Buy

Large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC increased its holdings in shares of Best Buy by 8.4% in the fourth quarter. Cerity Partners LLC now owns 103,459 shares of the technology retailer’s stock worth $8,100,000 after buying an additional 8,042 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of Best Buy during the 4th quarter worth approximately $317,000. Mirabella Financial Services LLP purchased a new position in shares of Best Buy during the 3rd quarter worth approximately $831,000. Van ECK Associates Corp grew its holdings in shares of Best Buy by 35.6% during the 3rd quarter. Van ECK Associates Corp now owns 94,282 shares of the technology retailer’s stock worth $6,550,000 after acquiring an additional 24,763 shares during the period. Finally, Dai ichi Life Insurance Company Ltd grew its holdings in shares of Best Buy by 1,405.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 214,232 shares of the technology retailer’s stock worth $14,883,000 after acquiring an additional 200,000 shares during the period. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BBY. Wedbush upped their price target on Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Citigroup increased their target price on Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, March 1st. TheStreet raised Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Morgan Stanley increased their target price on Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Finally, Jefferies Financial Group dropped their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Best Buy presently has a consensus rating of “Hold” and an average price target of $84.60.

Best Buy Company Profile

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.