Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson Sells 3,182 Shares

Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson sold 3,182 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the transaction, the chief accounting officer now owns 19,218 shares in the company, valued at $1,370,051.22. This trade represents a 14.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Best Buy Stock Up 1.0 %

Shares of BBY stock opened at $73.86 on Thursday. The company has a market capitalization of $15.79 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The firm has a fifty day moving average of $83.75 and a 200-day moving average of $89.47. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the prior year, the firm earned $2.72 earnings per share. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be issued a $0.95 dividend. This is a boost 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 dividend yield of 5.14%. Best Buy’s dividend payout ratio (DPR) is presently 88.99%.

Institutional Trading of Best Buy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. increased its position in shares of Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in shares of Best Buy in the fourth quarter valued at $31,000. Golden State Wealth Management LLC bought a new stake in Best Buy during the fourth quarter worth $32,000. Atlas Capital Advisors Inc. raised its position in Best Buy by 186.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 243 shares in the last quarter. Finally, Ancora Advisors LLC lifted its stake in Best Buy by 18,700.0% in the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock valued at $32,000 after acquiring an additional 374 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of a number of recent research reports. Evercore ISI cut their price target on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a report on Wednesday, March 5th. Truist Financial reduced their price target on Best Buy from $95.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Bank of America decreased their target price on Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $93.50.

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.