Traders Buy High Volume of Call Options on Best Buy Co (BBY)
Best Buy Co (NYSE:BBY) was the recipient of some unusual options trading on Monday. Stock traders bought 35,191 call options on the company, AnalystRatings.Net reports. This is an increase of approximately 227% compared to the average volume of 10,746 call options.
In other Best Buy Co news, General Counsel Keith J. Nelsen unloaded 17,213 shares of Best Buy Co stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $27.00, for a total value of $464,751.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Best Buy Co from $34.00 to $35.00 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Best Buy Co from $33.00 to $34.00 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Best Buy Co in a research note on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $41.53.
Best Buy Co (NYSE:BBY) traded down 0.21% during mid-day trading on Monday, hitting $28.97. The stock had a trading volume of 2,958,206 shares. Best Buy Co has a 52-week low of $22.15 and a 52-week high of $44.66. The stock’s 50-day moving average is $26.07 and its 200-day moving average is $29.85. The company has a market cap of $10.064 billion and a P/E ratio of 9.48.
Best Buy Co (NYSE:BBY) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.13. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the company posted $0.36 earnings per share. Best Buy Co’s revenue was down 3.3% compared to the same quarter last year. On average, analysts predict that Best Buy Co will post $2.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 3rd. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Tuesday, June 10th.
Best Buy Co, Inc is a multinational, multichannel retailer of technology products, including tablets and computers, televisions, mobile phones, large and small appliances, entertainment products, digital imaging and related accessories.
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