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

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CAO Mathew Watson sold 3,182 shares of the firm's stock in a transaction on 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. The trade was a 14.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Best Buy Trading Up 0.2 %

NYSE BBY traded up $0.15 during trading on Friday, hitting $73.63. The stock had a trading volume of 6,849,486 shares, compared to its average volume of 2,968,034. The company has a market capitalization of $15.74 billion, a PE ratio of 12.59, a PEG ratio of 2.10 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average price of $83.34 and a 200 day moving average price of $89.01. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results 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. The firm had revenue of $13.95 billion during the quarter, compared to analysts' expectations 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 previous year, the business earned $2.72 earnings per share. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Remove Ads

Best Buy Increases Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.16%. This is a positive change from Best Buy's previous quarterly dividend of $0.94. Best Buy's payout ratio is presently 88.99%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wedbush restated a "neutral" rating and issued a $90.00 price objective on shares of Best Buy in a report on Monday, March 3rd. UBS Group set a $105.00 price target on Best Buy in a report on Wednesday, March 5th. Jefferies Financial Group reduced their price target on Best Buy from $106.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Loop Capital reiterated a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price target on Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $93.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. increased its holdings in shares of Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after purchasing an additional 311 shares during the period. Vermillion Wealth Management Inc. acquired a new position in shares of Best Buy in the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new position in shares of Best Buy in the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. increased its holdings in shares of Best Buy by 186.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 243 shares during the period. Finally, Ancora Advisors LLC increased its holdings in shares of 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 purchasing an additional 374 shares during the period. Institutional investors and hedge funds 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.