Best Buy Co., Inc. (NYSE:BBY) CFO Sells $688,867.30 in Stock

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CFO Matthew M. Bilunas sold 9,482 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $688,867.30. Following the completion of the sale, the chief financial officer now directly owns 106,856 shares in the company, valued at approximately $7,763,088.40. This represents a 8.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Best Buy Stock Performance

Best Buy stock traded down $2.59 during trading hours on Friday, hitting $72.28. 2,547,536 shares of the stock traded hands, compared to its average volume of 3,050,896. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. 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 $15.28 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 2.10 and a beta of 1.43. The firm's 50 day moving average price is $82.51 and its 200-day moving average price is $88.25.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.18. The firm had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter in the prior year, the business earned $2.72 earnings per share. As a group, equities analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

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Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend is Tuesday, March 25th. This is a positive change from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio is currently 88.99%.

Institutional Trading of Best Buy

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in shares of Best Buy by 144.0% during the fourth quarter. Wellington Management Group LLP now owns 5,683 shares of the technology retailer's stock worth $488,000 after purchasing an additional 3,354 shares in the last quarter. DSG Capital Advisors LLC acquired a new position in shares of Best Buy during the fourth quarter valued at approximately $2,777,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Best Buy by 49.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 172,806 shares of the technology retailer's stock valued at $14,827,000 after acquiring an additional 57,520 shares in the last quarter. Siemens Fonds Invest GmbH boosted its stake in shares of Best Buy by 254.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 15,349 shares of the technology retailer's stock worth $1,317,000 after acquiring an additional 11,024 shares during the last quarter. Finally, GHE LLC increased its position in shares of Best Buy by 4.3% during the fourth quarter. GHE LLC now owns 19,163 shares of the technology retailer's stock worth $1,644,000 after purchasing an additional 788 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BBY shares. Truist Financial reduced their price target on Best Buy from $95.00 to $81.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Morgan Stanley decreased their target price on Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. KeyCorp restated a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 5th. Loop Capital reaffirmed a "negative" rating on shares of Best Buy in a research note on Wednesday, March 5th. Finally, Evercore ISI lowered their price objective on shares of Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $93.50.

About Best Buy

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.