Best Buy Co., Inc. (NYSE:BBY) CFO Matthew M. Bilunas Sells 51,000 Shares

Best Buy Co., Inc. (NYSE:BBY) CFO Matthew M. Bilunas sold 51,000 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $74.20, for a total value of $3,784,200.00. Following the sale, the chief financial officer now owns 55,856 shares in the company, valued at $4,144,515.20. This represents a 47.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Best Buy Trading Up 0.1 %

NYSE BBY opened at $74.89 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. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The business has a 50 day simple moving average of $82.70 and a 200 day simple moving average of $88.48. The stock has a market capitalization of $15.83 billion, a P/E ratio of 12.80, a P/E/G ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates 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 prior year, the company earned $2.72 earnings per share. Research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 annualized dividend and a yield of 5.07%. Best Buy’s dividend payout ratio is presently 88.99%.

Analyst Upgrades and Downgrades

BBY has been the topic of several research reports. Wells Fargo & Company reduced their price target on Best Buy from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group reduced their target price on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price target on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Truist Financial cut their price target on shares of Best Buy from $95.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Finally, Wedbush restated a “neutral” rating and issued a $90.00 price objective on shares of Best Buy in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $93.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. IFP Advisors Inc lifted its position in Best Buy by 5.2% in the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock valued at $218,000 after acquiring an additional 125 shares in the last quarter. Mariner LLC raised its stake in shares of Best Buy by 0.3% in the fourth quarter. Mariner LLC now owns 43,215 shares of the technology retailer’s stock worth $3,708,000 after purchasing an additional 129 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of Best Buy by 36.3% in the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer’s stock valued at $45,000 after purchasing an additional 141 shares in the last quarter. Rothschild Investment LLC grew its holdings in Best Buy by 19.7% during the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after buying an additional 142 shares in the last quarter. Finally, Independent Advisor Alliance grew its holdings in Best Buy by 5.0% during the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock worth $258,000 after buying an additional 142 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Company Profile

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.