Mathew Watson Sells 3,298 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson sold 3,298 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $211,137.96. Following the transaction, the chief accounting officer directly owned 23,192 shares of the company’s stock, valued at approximately $1,484,751.84. This trade represents a 12.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Best Buy Stock Up 4.6%

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

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.13. The firm had revenue of $13.81 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th will be paid a $0.96 dividend. This is a boost 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 is Tuesday, March 24th. Best Buy’s payout ratio is currently 76.19%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BBY shares. JPMorgan Chase & Co. lowered shares of Best Buy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $99.00 to $76.00 in a report on Monday, February 2nd. Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Wednesday, March 4th. Morgan Stanley decreased their price target on Best Buy from $76.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 4th. Barclays lowered their price target on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 4th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BBY. Stance Capital LLC increased its stake in shares of Best Buy by 4,696.9% in the 4th quarter. Stance Capital LLC now owns 28,110 shares of the technology retailer’s stock worth $1,881,000 after purchasing an additional 27,524 shares in the last quarter. Winthrop Partners WNY LLC purchased a new stake in Best Buy in the fourth quarter worth about $790,000. Corient Private Wealth LLC raised its stake in shares of Best Buy by 92.9% in the fourth quarter. Corient Private Wealth LLC now owns 34,167 shares of the technology retailer’s stock worth $2,288,000 after buying an additional 16,452 shares during the period. Hsbc Holdings PLC lifted its position in shares of Best Buy by 104.1% during the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock valued at $135,685,000 after buying an additional 1,030,544 shares in the last quarter. Finally, Bayban bought a new position in shares of Best Buy during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

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.

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.