Very Positive Press Coverage Likely to Affect Best Buy Co. (BBY) Stock Price

News headlines about Best Buy Co. (NYSE:BBY) have trended very positive on Saturday, Alpha One Sentiment Analysis reports. Alpha One, a division of Accern, rates the sentiment of press coverage by monitoring more than 20 million blog and news sources. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Best Buy Co. earned a media sentiment score of 0.51 on Alpha One’s scale. Alpha One also assigned media headlines about the technology retailer an impact score of 77 out of 100, meaning that recent press coverage is likely to have an effect on the stock’s share price in the immediate future.

These are some of the news articles that may have impacted Alpha One’s scoring:

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

Best Buy Co. (BBY) traded down 1.59% on Friday, hitting $55.65. The company’s stock had a trading volume of 6,589,470 shares. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 14.97 and a beta of 1.47. The firm has a 50 day moving average of $54.72 and a 200 day moving average of $48.15. Best Buy Co. has a 12 month low of $29.05 and a 12 month high of $61.95.

Best Buy Co. (NYSE:BBY) last issued its quarterly earnings data on Thursday, May 25th. The technology retailer reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.20. The company had revenue of $8.53 billion for the quarter, compared to analyst estimates of $8.28 billion. Best Buy Co. had a net margin of 3.01% and a return on equity of 26.81%. Best Buy Co.’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Equities research analysts forecast that Best Buy Co. will post $3.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, June 13th. Best Buy Co.’s payout ratio is 36.46%.

A number of analysts have recently issued reports on the stock. Wedbush set a $25.00 price target on shares of Best Buy Co. and gave the stock a “sell” rating in a research report on Saturday, February 25th. Barclays PLC set a $50.00 price objective on Best Buy Co. and gave the stock a “buy” rating in a report on Saturday, February 18th. Sanford C. Bernstein restated a “sell” rating on shares of Best Buy Co. in a report on Saturday, April 8th. Bank of America Corporation upgraded Best Buy Co. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a report on Tuesday, April 25th. Finally, Loop Capital upgraded Best Buy Co. from a “sell” rating to a “hold” rating and lowered their price target for the company from $37.00 to $35.00 in a report on Monday, May 15th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and nineteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.14.

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In other Best Buy Co. news, insider Shari L. Ballard sold 189,746 shares of Best Buy Co. stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $48.57, for a total value of $9,215,963.22. Following the transaction, the insider now directly owns 161,364 shares of the company’s stock, valued at $7,837,449.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Victor Kathy J. Higgins sold 7,500 shares of Best Buy Co. stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $47.73, for a total transaction of $357,975.00. Following the completion of the transaction, the director now directly owns 42,510 shares in the company, valued at $2,029,002.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,444 shares of company stock worth $21,622,180. 1.21% of the stock is currently owned by corporate insiders.

Best Buy Co. Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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