Kathleen Scarlett Sells 6,847 Shares of Best Buy Co., Inc. (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) EVP Kathleen Scarlett sold 6,847 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $497,434.55. Following the sale, the executive vice president now owns 87,389 shares in the company, valued at $6,348,810.85. This represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Best Buy Stock Performance

BBY traded down $2.59 on Friday, hitting $72.28. The company had a trading volume of 2,547,536 shares, compared to its average volume of 3,050,896. The stock has a market cap of $15.28 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. 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 company's fifty day moving average price is $82.51 and its 200 day moving average price is $88.25. 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 issued 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. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $13.95 billion during the quarter, compared to analysts' expectations of $13.69 billion. During the same period in the previous year, the company earned $2.72 earnings per share. Equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

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Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be paid a $0.95 dividend. The ex-dividend date is Tuesday, March 25th. 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 dividend yield of 5.26%. Best Buy's payout ratio is presently 88.99%.

Analyst Ratings Changes

BBY has been the topic of several recent analyst reports. Loop Capital reissued a "negative" rating on shares of Best Buy in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their target price on Best Buy from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Wedbush reissued a "neutral" rating and issued a $90.00 price target on shares of Best Buy in a research report on Monday, March 3rd. Truist Financial decreased their price target on shares of Best Buy from $95.00 to $81.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Finally, DA Davidson dropped their price objective on shares of Best Buy from $117.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $93.50.

Institutional Trading of Best Buy

Several hedge funds have recently added to or reduced their stakes in the business. Rakuten Securities Inc. lifted its holdings in shares of Best Buy by 971.9% during the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock worth $29,000 after buying an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new position in Best Buy during the 4th quarter valued at $31,000. Golden State Wealth Management LLC bought a new stake in Best Buy in the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. grew its position in Best Buy by 186.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock worth $32,000 after purchasing an additional 243 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings 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 purchasing an additional 374 shares during the period. Institutional investors own 80.96% of the company's stock.

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.