Best Buy Co., Inc. (NYSE:BBY) major shareholder Richard M. Schulze sold 65,000 shares of Best Buy stock in a transaction on Monday, December 4th. The shares were sold at an average price of $61.08, for a total value of $3,970,200.00. Following the sale, the insider now directly owns 1,732,500 shares in the company, valued at approximately $105,821,100. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Best Buy Co., Inc. (NYSE BBY) traded up $2.20 during mid-day trading on Tuesday, hitting $62.55. The stock had a trading volume of 6,917,800 shares, compared to its average volume of 4,478,901. Best Buy Co., Inc. has a twelve month low of $41.67 and a twelve month high of $63.32. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $17,641.90, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.25 and a beta of 1.40.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The business had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. Best Buy’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts anticipate that Best Buy Co., Inc. will post 4.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.17%. Best Buy’s dividend payout ratio is 34.34%.

BBY has been the topic of several recent analyst reports. Oppenheimer reaffirmed a “hold” rating on shares of Best Buy in a research note on Tuesday, August 29th. Barclays reaffirmed a “buy” rating and set a $65.00 target price on shares of Best Buy in a research note on Monday, August 28th. Loop Capital set a $72.00 target price on Best Buy and gave the company a “buy” rating in a research note on Tuesday, October 24th. Deutsche Bank reaffirmed a “buy” rating and set a $58.00 target price (down previously from $60.00) on shares of Best Buy in a research note on Thursday, August 31st. Finally, Royal Bank Of Canada lifted their target price on Best Buy from $60.00 to $61.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 30th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $58.81.

Hedge funds have recently modified their holdings of the company. TrimTabs Asset Management LLC boosted its position in Best Buy by 17.1% during the third quarter. TrimTabs Asset Management LLC now owns 6,767 shares of the technology retailer’s stock valued at $385,000 after purchasing an additional 990 shares during the last quarter. Gyroscope Capital Management Group LLC boosted its position in Best Buy by 4.5% during the third quarter. Gyroscope Capital Management Group LLC now owns 103,033 shares of the technology retailer’s stock valued at $5,869,000 after purchasing an additional 4,469 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Best Buy during the third quarter valued at $482,000. IFM Investors Pty Ltd acquired a new stake in Best Buy during the third quarter valued at $462,000. Finally, Fieldpoint Private Securities LLC acquired a new stake in Best Buy during the third quarter valued at $139,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

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About Best Buy

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.

Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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