Best Buy Co Inc (NYSE:BBY) CEO Hubert Joly sold 9,591 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $72.45, for a total value of $694,867.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Best Buy Co Inc (BBY) traded down $1.62 during midday trading on Wednesday, reaching $69.90. The company’s stock had a trading volume of 5,155,729 shares, compared to its average volume of 4,120,000. Best Buy Co Inc has a 12-month low of $43.72 and a 12-month high of $78.59. The firm has a market capitalization of $20,430.00, a PE ratio of 16.52, a P/E/G ratio of 1.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59.
Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, March 1st. The technology retailer reported $2.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.37. Best Buy had a return on equity of 32.68% and a net margin of 2.37%. The firm had revenue of $15.36 billion for the quarter, compared to analysts’ expectations of $14.52 billion. During the same quarter in the prior year, the firm posted $1.93 earnings per share. Best Buy’s revenue for the quarter was up 14.0% compared to the same quarter last year. research analysts anticipate that Best Buy Co Inc will post 4.97 EPS for the current fiscal year.
A number of brokerages have commented on BBY. Zacks Investment Research cut Best Buy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Wedbush reiterated an “underperform” rating and issued a $48.00 price target (up previously from $45.00) on shares of Best Buy in a research note on Monday, March 5th. Credit Suisse Group reiterated a “hold” rating and issued a $74.00 price target (up previously from $60.00) on shares of Best Buy in a research note on Monday, March 5th. Bank of America boosted their price target on Best Buy from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $74.00 price target (up previously from $66.00) on shares of Best Buy in a research note on Friday, March 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $69.25.
Hedge funds and other institutional investors have recently made changes to their positions in the business. SWS Partners acquired a new stake in Best Buy during the fourth quarter valued at approximately $110,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Best Buy by 232.8% during the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock valued at $139,000 after buying an additional 1,420 shares in the last quarter. Fieldpoint Private Securities LLC bought a new position in shares of Best Buy during the third quarter valued at approximately $139,000. Squar Milner Financial Services LLC bought a new position in shares of Best Buy during the fourth quarter valued at approximately $201,000. Finally, Harbour Capital Advisors LLC bought a new position in shares of Best Buy during the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 85.73% 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.
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