Insider Selling: Best Buy Co., Inc. (NYSE:BBY) CAO Sells $77,548.12 in Stock

Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson sold 668 shares of the firm’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $116.09, for a total transaction of $77,548.12. Following the transaction, the chief accounting officer now directly owns 14,462 shares of the company’s stock, valued at $1,678,893.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mathew Watson also recently made the following trade(s):

  • On Friday, June 4th, Mathew Watson sold 1,337 shares of Best Buy stock. The shares were sold at an average price of $115.73, for a total transaction of $154,731.01.
  • On Monday, May 10th, Mathew Watson sold 2,257 shares of Best Buy stock. The stock was sold at an average price of $125.00, for a total transaction of $282,125.00.
  • On Tuesday, April 13th, Mathew Watson sold 13 shares of Best Buy stock. The stock was sold at an average price of $121.74, for a total transaction of $1,582.62.
  • On Wednesday, March 24th, Mathew Watson sold 1,781 shares of Best Buy stock. The stock was sold at an average price of $117.37, for a total transaction of $209,035.97.
  • On Monday, March 22nd, Mathew Watson sold 4,436 shares of Best Buy stock. The stock was sold at an average price of $118.17, for a total transaction of $524,202.12.
  • On Tuesday, March 16th, Mathew Watson sold 567 shares of Best Buy stock. The stock was sold at an average price of $113.88, for a total transaction of $64,569.96.

Shares of NYSE BBY opened at $112.54 on Friday. The firm has a 50 day simple moving average of $118.02. The company has a market cap of $28.19 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.66 and a beta of 1.53. Best Buy Co., Inc. has a 1 year low of $75.23 and a 1 year high of $128.57. The company has a current ratio of 1.17, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Wednesday, May 26th. The technology retailer reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.84. The business had revenue of $11.64 billion during the quarter, compared to analyst estimates of $10.43 billion. Best Buy had a net margin of 4.44% and a return on equity of 59.67%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the business earned $0.67 EPS. Analysts predict that Best Buy Co., Inc. will post 8.53 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 8th. Shareholders of record on Thursday, June 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, June 16th. Best Buy’s dividend payout ratio is presently 35.40%.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Best Buy by 8.7% during the 1st quarter. BlackRock Inc. now owns 20,989,045 shares of the technology retailer’s stock valued at $2,409,750,000 after purchasing an additional 1,682,939 shares during the period. FMR LLC grew its position in shares of Best Buy by 21.0% during the 4th quarter. FMR LLC now owns 14,227,362 shares of the technology retailer’s stock worth $1,419,747,000 after buying an additional 2,464,803 shares during the period. Ameriprise Financial Inc. grew its position in shares of Best Buy by 5.4% during the 1st quarter. Ameriprise Financial Inc. now owns 4,673,164 shares of the technology retailer’s stock worth $537,004,000 after buying an additional 240,110 shares during the period. Geode Capital Management LLC grew its position in shares of Best Buy by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 4,446,207 shares of the technology retailer’s stock worth $509,271,000 after buying an additional 105,147 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Best Buy by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,561,571 shares of the technology retailer’s stock worth $355,409,000 after buying an additional 239,631 shares during the period. 77.39% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on BBY. UBS Group boosted their price objective on shares of Best Buy from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, February 25th. Barclays boosted their price objective on shares of Best Buy from $121.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, May 28th. Telsey Advisory Group boosted their price objective on shares of Best Buy from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, May 28th. Piper Sandler boosted their price objective on shares of Best Buy from $140.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, May 28th. Finally, DA Davidson raised shares of Best Buy to a “buy” rating in a research report on Friday, May 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Best Buy has a consensus rating of “Buy” and an average price target of $120.79.

Best Buy Company Profile

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phones, such as computing covering desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions, networking products, tablets covering e-readers, and wearables, such as smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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