Best Buy Co Inc (NYSE:BBY) COO Rajendra M. Mohan sold 27,446 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $80.61, for a total transaction of $2,212,422.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Best Buy stock opened at $79.20 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.05 and a quick ratio of 0.27. The company has a 50-day moving average of $74.42 and a 200 day moving average of $69.88. The firm has a market cap of $21.25 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.72 and a beta of 1.14. Best Buy Co Inc has a 1 year low of $47.72 and a 1 year high of $83.63.
Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.71 billion. Best Buy had a net margin of 3.54% and a return on equity of 49.43%. Best Buy’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. On average, equities analysts anticipate that Best Buy Co Inc will post 5.92 EPS for the current year.
BBY has been the subject of several research analyst reports. Loop Capital set a $90.00 target price on shares of Best Buy and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada raised shares of Best Buy to a “buy” rating and raised their target price for the stock from $74.00 to $86.00 in a research report on Wednesday, November 27th. Raymond James reaffirmed a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research report on Wednesday, November 27th. Jefferies Financial Group set a $80.00 price target on shares of Best Buy and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Guggenheim upgraded shares of Best Buy to a “buy” rating and increased their price target for the stock from $80.00 to $90.00 in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $82.47.
Large investors have recently added to or reduced their stakes in the business. Virtus ETF Advisers LLC bought a new stake in Best Buy during the 2nd quarter valued at about $25,000. Advisors Preferred LLC bought a new stake in Best Buy during the 2nd quarter valued at about $27,000. TRUE Private Wealth Advisors bought a new stake in Best Buy during the 2nd quarter valued at about $27,000. Rational Advisors LLC increased its stake in Best Buy by 168.3% during the 3rd quarter. Rational Advisors LLC now owns 550 shares of the technology retailer’s stock valued at $38,000 after purchasing an additional 345 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in Best Buy by 138.4% during the 3rd quarter. Whittier Trust Co. now owns 553 shares of the technology retailer’s stock valued at $38,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
Recommended Story: What is a capital gains distribution?
Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.