Best Buy Co Sees Unusually High Options Volume (BBY)
Best Buy Co Inc (NYSE:BBY) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 1,986 put options on the company. This represents an increase of 592% compared to the typical daily volume of 287 put options.
In related news, insider Kathleen Scarlett sold 10,797 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total transaction of $566,734.53. Following the transaction, the insider now directly owns 25,690 shares in the company, valued at $1,348,468.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Mathew Watson sold 1,129 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $61,733.72. Following the transaction, the vice president now owns 17,764 shares in the company, valued at $971,335.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,259 shares of company stock worth $9,182,693. 1.21% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in BBY. FNY Managed Accounts LLC lifted its holdings in shares of Best Buy Co by 18,281.8% during the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after purchasing an additional 2,011 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Best Buy Co by 18.4% during the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after purchasing an additional 318 shares in the last quarter. Exane Derivatives lifted its holdings in shares of Best Buy Co by 65.5% during the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after purchasing an additional 1,010 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Best Buy Co by 6.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after purchasing an additional 163 shares in the last quarter. Finally, Smithfield Trust Co. bought a new position in shares of Best Buy Co during the third quarter valued at $178,000. 88.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Best Buy Co (NYSE BBY) opened at $56.92 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.69 and a current ratio of 1.42. Best Buy Co has a 52-week low of $37.10 and a 52-week high of $63.32. The firm has a market cap of $17.03 billion, a PE ratio of 14.85, a P/E/G ratio of 1.15 and a beta of 1.42.
Best Buy Co (NYSE:BBY) last announced its quarterly earnings results 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. The firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. Best Buy Co had a return on equity of 27.41% and a net margin of 3.00%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. analysts expect that Best Buy Co will post 4.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Monday, September 18th. Best Buy Co’s payout ratio is currently 36.07%.
A number of equities analysts recently weighed in on BBY shares. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Best Buy Co in a report on Tuesday, August 29th. Barclays PLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Best Buy Co in a research report on Monday, August 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $58.00 price objective (down from $60.00) on shares of Best Buy Co in a research report on Thursday, August 31st. Royal Bank Of Canada lifted their price objective on shares of Best Buy Co from $60.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 30th. Finally, UBS Group AG (USA) reaffirmed a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Best Buy Co in a research report on Thursday, August 31st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $58.97.
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About Best Buy Co
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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