Jason Bonfig Sells 6,336 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) EVP Jason Bonfig sold 6,336 shares of Best Buy stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $405,630.72. Following the completion of the transaction, the executive vice president directly owned 79,137 shares in the company, valued at approximately $5,066,350.74. The trade was a 7.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Best Buy Stock Up 4.6%

Shares of BBY stock opened at $63.18 on Friday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $84.99. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $65.09 and a 200-day moving average of $71.69. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.49 and a beta of 1.46.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating the consensus estimate of $2.48 by $0.13. The business had revenue of $13.81 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.96 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, March 24th. Best Buy’s payout ratio is currently 76.19%.

Trending Headlines about Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Dividend support: Best Buy’s long record of payouts (22 consecutive years of raises) and a ~6.1% yield are drawing income-focused buyers, reinforcing demand for the shares even as sales growth is soft. Read More.
• Neutral Sentiment: Takeover rumors: Media and traders credited a sudden rally to speculation GameStop might be preparing an acquisition of Best Buy; this appears to be rumor-driven with little public evidence and could be temporary. Read More.
• Neutral Sentiment: Analyst clarification: The analyst whose note sparked the chatter says he did not intend to imply a GameStop takeover — underscoring that the move lacks confirmed strategic rationale and increasing the chance the bump is short-lived. Read More.
• Negative Sentiment: Insider selling: Several senior executives sold shares on March 23 (including CEO Corie Barry, CFO Matthew Bilunas, CAO Mathew Watson and other EVPs), collectively trimming individual holdings by roughly 7–13%. Large, clustered insider sales can be read as profit-taking and may weigh on sentiment. Example SEC filing for the CEO sale: Read More.
• Negative Sentiment: Operational caution: Recent quarter showed modest revenue decline y/y and management set FY27 EPS guidance of $6.30–$6.60 — decent earnings but revenue softness and mixed analyst targets leave upside limited absent a clear catalyst. Read More.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BBY shares. Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research note on Wednesday, March 4th. The Goldman Sachs Group lowered their price objective on shares of Best Buy from $93.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Wells Fargo & Company cut their price objective on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. Morgan Stanley reduced their target price on shares of Best Buy from $76.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, March 4th. Finally, Truist Financial decreased their target price on shares of Best Buy from $73.00 to $66.00 and set a “hold” rating for the company in a research report on Tuesday, March 3rd. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.20.

Institutional Investors Weigh In On Best Buy

A number of institutional investors and hedge funds have recently made changes to their positions in BBY. Woodline Partners LP increased its holdings in Best Buy by 40.1% during the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock worth $1,210,000 after buying an additional 4,701 shares during the last quarter. Prudential PLC acquired a new stake in Best Buy in the second quarter valued at $500,000. Handelsbanken Fonder AB grew its position in shares of Best Buy by 1.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 35,400 shares of the technology retailer’s stock valued at $2,376,000 after acquiring an additional 481 shares during the period. Swiss National Bank grew its position in shares of Best Buy by 6.1% in the 2nd quarter. Swiss National Bank now owns 607,800 shares of the technology retailer’s stock valued at $40,802,000 after acquiring an additional 34,900 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Best Buy by 7.7% during the 2nd quarter. Franklin Resources Inc. now owns 951,377 shares of the technology retailer’s stock worth $63,866,000 after purchasing an additional 68,175 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.