Best Buy Co., Inc. (NYSE:BBY) EVP Jason J. Bonfig Sells 3,500 Shares

Best Buy Co., Inc. (NYSE:BBY) EVP Jason J. Bonfig sold 3,500 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $83.02, for a total transaction of $290,570.00. Following the completion of the sale, the executive vice president now owns 50,714 shares in the company, valued at $4,210,276.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Best Buy Trading Down 1.0 %

NYSE BBY traded down $0.86 on Wednesday, reaching $85.56. 3,623,018 shares of the company were exchanged, compared to its average volume of 3,188,281. The company has a current ratio of 1.01, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average price is $80.94 and its 200 day moving average price is $78.09. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $93.72. The stock has a market capitalization of $18.46 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 2.76 and a beta of 1.48.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, May 30th. The technology retailer reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Best Buy had a return on equity of 47.56% and a net margin of 2.90%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. Analysts forecast that Best Buy Co., Inc. will post 6.11 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th will be given a dividend of $0.94 per share. The ex-dividend date is Thursday, June 20th. This represents a $3.76 annualized dividend and a dividend yield of 4.39%. Best Buy’s dividend payout ratio is currently 65.85%.

Hedge Funds Weigh In On Best Buy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lido Advisors LLC grew its stake in Best Buy by 21.4% during the 3rd quarter. Lido Advisors LLC now owns 4,392 shares of the technology retailer’s stock worth $305,000 after purchasing an additional 775 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in Best Buy by 2.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 74,268 shares of the technology retailer’s stock worth $5,158,000 after buying an additional 1,688 shares during the last quarter. Banque Pictet & Cie SA grew its position in shares of Best Buy by 331.8% during the third quarter. Banque Pictet & Cie SA now owns 16,504 shares of the technology retailer’s stock worth $1,147,000 after acquiring an additional 12,682 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Best Buy in the third quarter valued at about $947,000. Finally, American Century Companies Inc. raised its stake in Best Buy by 31.8% during the 3rd quarter. American Century Companies Inc. now owns 215,244 shares of the technology retailer’s stock valued at $14,953,000 after acquiring an additional 51,883 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group raised Best Buy from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $106.00 in a research note on Monday, June 17th. Jefferies Financial Group lowered their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Loop Capital lifted their target price on Best Buy from $93.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Wedbush reissued a “neutral” rating and issued a $85.00 price objective on shares of Best Buy in a research report on Tuesday, May 28th. Finally, Citigroup upgraded shares of Best Buy from a “sell” rating to a “buy” rating and upped their price target for the company from $67.00 to $100.00 in a research note on Monday, June 3rd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Best Buy currently has an average rating of “Moderate Buy” and a consensus price target of $90.87.

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.