Best Buy Co Inc (BBY) SVP Mathew Watson Sells 380 Shares

Best Buy Co Inc (NYSE:BBY) SVP Mathew Watson sold 380 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $68.79, for a total transaction of $26,140.20. Following the completion of the sale, the senior vice president now owns 20,206 shares in the company, valued at approximately $1,389,970.74. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Mathew Watson also recently made the following trade(s):

  • On Thursday, February 28th, Mathew Watson sold 1,000 shares of Best Buy stock. The shares were sold at an average price of $69.99, for a total transaction of $69,990.00.

NYSE BBY traded up $0.78 on Friday, hitting $69.63. The stock had a trading volume of 6,813,967 shares, compared to its average volume of 3,647,688. Best Buy Co Inc has a one year low of $47.72 and a one year high of $84.37. The company has a current ratio of 1.18, a quick ratio of 0.46 and a debt-to-equity ratio of 0.40. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94.

Best Buy (NYSE:BBY) last posted its earnings results on Wednesday, February 27th. The technology retailer reported $2.72 EPS for the quarter, topping the consensus estimate of $2.57 by $0.15. Best Buy had a net margin of 3.41% and a return on equity of 46.33%. The firm had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $14.69 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. Best Buy’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts expect that Best Buy Co Inc will post 5.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 19th. This is a boost from Best Buy’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.87%. Best Buy’s dividend payout ratio (DPR) is 33.83%.

Best Buy declared that its board has initiated a stock repurchase plan on Wednesday, February 27th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the technology retailer to repurchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Several institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Best Buy by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,719 shares of the technology retailer’s stock valued at $568,000 after acquiring an additional 189 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Best Buy by 9.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,557 shares of the technology retailer’s stock valued at $135,000 after purchasing an additional 228 shares during the last quarter. Kepos Capital LP lifted its stake in Best Buy by 0.3% during the fourth quarter. Kepos Capital LP now owns 84,310 shares of the technology retailer’s stock valued at $4,465,000 after purchasing an additional 233 shares during the last quarter. Huntington National Bank lifted its stake in Best Buy by 22.6% during the fourth quarter. Huntington National Bank now owns 1,295 shares of the technology retailer’s stock valued at $69,000 after purchasing an additional 239 shares during the last quarter. Finally, Buckley Wealth Management LLC lifted its stake in Best Buy by 7.3% during the fourth quarter. Buckley Wealth Management LLC now owns 4,056 shares of the technology retailer’s stock valued at $215,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 82.76% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group set a $70.00 target price on shares of Best Buy and gave the company a “hold” rating in a research note on Wednesday, November 21st. Raymond James cut their target price on shares of Best Buy from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. ValuEngine upgraded shares of Best Buy from a “sell” rating to a “hold” rating in a research note on Monday. Piper Jaffray Companies lowered their price objective on shares of Best Buy from $87.00 to $81.00 and set a “buy” rating for the company in a research report on Wednesday, November 21st. Finally, Citigroup boosted their price objective on shares of Best Buy from $72.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $76.33.

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About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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