Best Buy Co., Inc. (BBY) CFO Sells $179,452.84 in Stock
Best Buy Co., Inc. (NYSE:BBY) CFO Corie S. Barry sold 3,134 shares of Best Buy Co. stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $57.26, for a total transaction of $179,452.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Best Buy Co., Inc. (NYSE BBY) traded up 0.42% during trading on Wednesday, reaching $57.15. 2,301,099 shares of the company’s stock were exchanged. The company has a market cap of $17.10 billion, a P/E ratio of 15.12 and a beta of 1.51. The stock’s 50-day moving average is $57.22 and its 200-day moving average is $54.73. Best Buy Co., Inc. has a 12-month low of $37.10 and a 12-month high of $63.32. Best Buy Co. also was the target of some unusual options trading activity on Monday. Investors purchased 993 call options on the company. This is an increase of 163% compared to the average daily volume of 378 call options.
Best Buy Co. (NYSE:BBY) last announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The business had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the firm posted $0.57 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Analysts predict that Best Buy Co., Inc. will post $4.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy Co.’s dividend payout ratio (DPR) is presently 35.88%.
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Several hedge funds have recently bought and sold shares of BBY. BlackRock Inc. grew its holdings in shares of Best Buy Co. by 1,859.1% in the first quarter. BlackRock Inc. now owns 20,064,628 shares of the technology retailer’s stock valued at $986,174,000 after purchasing an additional 19,040,478 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Best Buy Co. in the first quarter valued at $265,777,000. Renaissance Technologies LLC grew its holdings in shares of Best Buy Co. by 762.4% in the second quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock valued at $202,312,000 after purchasing an additional 3,119,700 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Best Buy Co. by 78.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,743,204 shares of the technology retailer’s stock valued at $183,979,000 after purchasing an additional 1,645,245 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Best Buy Co. by 4.0% in the first quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock valued at $1,602,962,000 after purchasing an additional 1,241,888 shares in the last quarter. 88.11% of the stock is owned by hedge funds and other institutional investors.
BBY has been the subject of several recent research reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Best Buy Co. in a research note on Tuesday, August 29th. Barclays PLC reiterated a “buy” rating and issued a $65.00 target price on shares of Best Buy Co. in a research note on Monday, August 28th. Deutsche Bank AG reiterated a “buy” rating and issued a $58.00 target price (down previously from $60.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Royal Bank Of Canada lifted their target price on shares of Best Buy Co. from $60.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 30th. Finally, UBS AG reiterated a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $58.79.
Best Buy Co. Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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