Matthew M. Bilunas Sells 69,166 Shares of Best Buy Co., Inc. (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CFO Matthew M. Bilunas sold 69,166 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the transaction, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Best Buy Stock Performance

Shares of BBY stock traded down $0.82 during trading hours on Friday, reaching $87.58. 2,238,080 shares of the company traded hands, compared to its average volume of 3,080,782. The firm has a 50-day moving average price of $91.78 and a 200 day moving average price of $90.17. The company has a market cap of $18.72 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.19 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. Best Buy's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.29%. Best Buy's payout ratio is presently 64.27%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group lowered their price objective on Best Buy from $123.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Wedbush increased their price objective on Best Buy from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. Barclays upped their target price on shares of Best Buy from $81.00 to $95.00 and gave the company an "equal weight" rating in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their price target on shares of Best Buy from $111.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Finally, StockNews.com downgraded shares of Best Buy from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Best Buy has an average rating of "Moderate Buy" and an average target price of $101.06.

Hedge Funds Weigh In On Best Buy

Several large investors have recently made changes to their positions in BBY. Dynamic Advisor Solutions LLC lifted its holdings in Best Buy by 5.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 3,847 shares of the technology retailer's stock worth $324,000 after purchasing an additional 211 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Best Buy by 10.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 99,769 shares of the technology retailer's stock valued at $8,410,000 after buying an additional 9,785 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Best Buy by 4.0% in the second quarter. Assenagon Asset Management S.A. now owns 13,470 shares of the technology retailer's stock worth $1,135,000 after buying an additional 516 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Best Buy during the second quarter worth $105,000. Finally, Blue Trust Inc. boosted its position in shares of Best Buy by 38.2% during the second quarter. Blue Trust Inc. now owns 4,478 shares of the technology retailer's stock worth $367,000 after acquiring an additional 1,238 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

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