Best Buy Co. Director Sells $6,466,500 in Stock (BBY)
Best Buy Co. (NYSE:BBY) Director Allen Lenzmeier sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $43.11, for a total transaction of $6,466,500.00. Following the transaction, the director now directly owns 6,327 shares in the company, valued at approximately $272,757. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Oppenheimer upgraded shares of Best Buy Co. from a “market perform” rating to a “buy” rating in a research note to investors on Thursday, October 17th. They now have a $50.00 price target on the stock, up previously from $41.60. Separately, analysts at Bank of America Corp. reiterated a “hold” rating on shares of Best Buy Co. in a research note to investors on Wednesday, October 16th. They now have a $38.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Best Buy Co. to $48.00 in a research note to investors on Wednesday, October 16th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $40.78.
Shares of Best Buy Co. (NYSE:BBY) traded down 1.23% on Wednesday, hitting $42.55. The stock had a trading volume of 4,283,967 shares. Best Buy Co. has a 1-year low of $11.20 and a 1-year high of $38.56. The stock has a 50-day moving average of $33.58 and a 200-day moving average of $27.29. The company’s market cap is $14.531 billion.
Best Buy Co. (NYSE:BBY) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.20. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. Analysts expect that Best Buy Co. will post $2.40 EPS for the current fiscal year.
Best Buy Co, Inc is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services.
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