Insider Selling: Shari Ballard Sells 32,325 Shares of Best Buy Co. Stock (BBY)
Best Buy Co. (NYSE:BBY) EVP Shari Ballard sold 32,325 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $1,389,005.25. Following the completion of the sale, the executive vice president now directly owns 154,837 shares of the company’s stock, valued at approximately $6,653,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Best Buy Co. (NYSE:BBY) traded down 1.23% during mid-day trading on Wednesday, hitting $42.55. 4,283,967 shares of the company’s stock traded hands. Best Buy Co. has a 52 week low of $11.20 and a 52 week high of $38.56. The stock’s 50-day moving average is $33.58 and its 200-day moving average is $27.29. The company’s market cap is $14.531 billion.
Best Buy Co. (NYSE:BBY) last released its 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. On average, analysts predict that Best Buy Co. will post $2.40 earnings per share for the current fiscal year.
BBY has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $40.78.
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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