Insider Selling: Best Buy Co Inc (NYSE:BBY) CAO Sells 801 Shares of Stock

Best Buy Co Inc (NYSE:BBY) CAO Mathew Watson sold 801 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $51.75, for a total value of $41,451.75. Following the completion of the transaction, the chief accounting officer now directly owns 24,907 shares of the company’s stock, valued at $1,288,937.25. The sale was disclosed in a filing with the SEC, which is available at this link.

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

  • On Monday, March 16th, Mathew Watson sold 806 shares of Best Buy stock. The stock was sold at an average price of $54.42, for a total value of $43,862.52.
  • On Friday, March 13th, Mathew Watson sold 603 shares of Best Buy stock. The stock was sold at an average price of $56.89, for a total value of $34,304.67.

BBY traded up $8.51 during mid-day trading on Tuesday, reaching $59.20. The stock had a trading volume of 3,909,180 shares, compared to its average volume of 2,836,096. The stock has a market capitalization of $13.37 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.07 and a beta of 1.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.46 and a current ratio of 1.10. The firm’s fifty day simple moving average is $76.80 and its two-hundred day simple moving average is $77.57. Best Buy Co Inc has a 52 week low of $48.10 and a 52 week high of $91.99.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, February 27th. The technology retailer reported $2.90 EPS for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.15. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. Best Buy had a return on equity of 49.17% and a net margin of 3.53%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $2.72 EPS. As a group, analysts expect that Best Buy Co Inc will post 6.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 19th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.72%. This is a positive change from Best Buy’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, March 18th. Best Buy’s dividend payout ratio (DPR) is presently 36.24%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Best Buy in the 3rd quarter worth $2,832,000. Voya Investment Management LLC boosted its position in shares of Best Buy by 97.7% in the 3rd quarter. Voya Investment Management LLC now owns 233,613 shares of the technology retailer’s stock worth $16,117,000 after purchasing an additional 115,418 shares during the last quarter. Neo Ivy Capital Management boosted its position in shares of Best Buy by 94.4% in the 3rd quarter. Neo Ivy Capital Management now owns 20,120 shares of the technology retailer’s stock worth $1,281,000 after purchasing an additional 9,769 shares during the last quarter. Boston Partners boosted its position in shares of Best Buy by 11,888,653.3% in the 3rd quarter. Boston Partners now owns 1,783,313 shares of the technology retailer’s stock worth $123,099,000 after purchasing an additional 1,783,298 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Best Buy by 2.5% in the 3rd quarter. Stifel Financial Corp now owns 249,268 shares of the technology retailer’s stock worth $17,195,000 after purchasing an additional 6,013 shares during the last quarter. Hedge funds and other institutional investors own 78.59% of the company’s stock.

A number of equities analysts have recently issued reports on BBY shares. Oppenheimer reissued a “buy” rating and issued a $105.00 target price (up from $86.00) on shares of Best Buy in a report on Friday, February 7th. Royal Bank of Canada restated a “buy” rating on shares of Best Buy in a research report on Monday. Jefferies Financial Group increased their price target on Best Buy from $91.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Co decreased their price target on Best Buy from $85.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Raymond James restated a “buy” rating and set a $100.00 price target on shares of Best Buy in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $83.18.

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.

Further Reading: Outstanding Shares

Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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