Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CFO Matthew M. Bilunas sold 69,166 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Best Buy Stock Down 0.9 %
Shares of NYSE BBY opened at $87.58 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock has a market capitalization of $18.72 billion, a P/E ratio of 14.97, a PEG ratio of 2.19 and a beta of 1.44. The firm's 50 day simple moving average is $91.54 and its two-hundred day simple moving average is $90.28. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71.
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Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $9.63 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.
Best Buy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.29%. Best Buy's dividend payout ratio (DPR) is presently 64.27%.
Institutional Investors Weigh In On Best Buy
Institutional investors and hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in shares of Best Buy by 10.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer's stock valued at $3,279,000 after buying an additional 3,025 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Best Buy by 27.4% in the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer's stock worth $9,332,000 after buying an additional 19,405 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Best Buy by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer's stock worth $15,806,000 after acquiring an additional 18,171 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Best Buy by 10.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 99,769 shares of the technology retailer's stock worth $8,410,000 after purchasing an additional 9,785 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Best Buy during the 3rd quarter valued at $2,384,000. Institutional investors own 80.96% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on BBY. JPMorgan Chase & Co. lifted their price objective on shares of Best Buy from $111.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Melius Research assumed coverage on Best Buy in a report on Monday, September 23rd. They issued a "hold" rating and a $100.00 price objective on the stock. DA Davidson reissued a "buy" rating and issued a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. UBS Group dropped their price objective on shares of Best Buy from $123.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group raised their target price on shares of Best Buy from $95.00 to $116.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.06.
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About Best Buy
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Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.
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