Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CAO Mathew Watson sold 2,951 shares of Best Buy stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $214,390.15. Following the sale, the chief accounting officer now owns 21,371 shares in the company, valued at approximately $1,552,603.15. This represents a 12.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Mathew Watson also recently made the following trade(s):
- On Friday, March 14th, Mathew Watson sold 3,182 shares of Best Buy stock. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78.
Best Buy Stock Up 0.2 %
Best Buy stock opened at $74.78 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The firm's fifty day moving average price is $82.84 and its two-hundred day moving average price is $88.58. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71.
Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter in the previous year, the business earned $2.72 EPS. On average, 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be given a $0.95 dividend. This is a positive change from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy's dividend payout ratio is presently 88.99%.
Hedge Funds Weigh In On Best Buy
Several large investors have recently bought and sold shares of BBY. Rakuten Securities Inc. raised its holdings in shares of Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after purchasing an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in Best Buy in the 4th quarter worth about $31,000. Golden State Wealth Management LLC purchased a new stake in Best Buy in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. lifted its position in shares of Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock worth $32,000 after buying an additional 243 shares in the last quarter. Finally, Ancora Advisors LLC lifted its position in shares of Best Buy by 18,700.0% during the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after buying an additional 374 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have commented on BBY. Bank of America cut their target price on Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a report on Wednesday, March 5th. DA Davidson cut their price objective on Best Buy from $117.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Piper Sandler decreased their target price on shares of Best Buy from $102.00 to $92.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Morgan Stanley reduced their price objective on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Best Buy from $115.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $93.50.
Get Our Latest Analysis on BBY
About Best Buy
(
Get Free Report)
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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