Best Buy Co Inc (NYSE:BBY) SVP Mathew Watson sold 380 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $68.79, for a total transaction of $26,140.20. Following the transaction, the senior vice president now directly owns 20,206 shares of the company’s stock, valued at $1,389,970.74. The sale was disclosed in a document filed with the SEC, which is available through this link.
Mathew Watson also recently made the following trade(s):
- On Thursday, February 28th, Mathew Watson sold 1,000 shares of Best Buy stock. The stock was sold at an average price of $69.99, for a total transaction of $69,990.00.
Shares of NYSE BBY traded up $0.78 during midday trading on Friday, hitting $69.63. The company’s stock had a trading volume of 6,814,014 shares, compared to its average volume of 3,647,688. Best Buy Co Inc has a 1-year low of $47.72 and a 1-year high of $84.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.46 and a current ratio of 1.18. The firm has a market capitalization of $18.74 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94.
Best Buy (NYSE:BBY) last posted its quarterly earnings results on Wednesday, February 27th. The technology retailer reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.57 by $0.15. Best Buy had a net margin of 3.41% and a return on equity of 46.33%. The business had revenue of $14.80 billion during the quarter, compared to analyst estimates of $14.69 billion. During the same period in the previous year, the business posted $2.42 EPS. The company’s quarterly revenue was down 3.7% on a year-over-year basis. Equities analysts forecast that Best Buy Co Inc will post 5.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th will be given a $0.50 dividend. The ex-dividend date is Tuesday, March 19th. This is an increase from Best Buy’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.87%. Best Buy’s dividend payout ratio (DPR) is currently 33.83%.
Best Buy announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 27th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the technology retailer to purchase up to 18.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Best Buy from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Piper Jaffray Companies decreased their price objective on shares of Best Buy from $87.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, November 21st. ValuEngine raised shares of Best Buy from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Credit Suisse Group set a $70.00 price target on shares of Best Buy and gave the company a “hold” rating in a report on Wednesday, November 21st. Finally, Morgan Stanley lifted their price target on shares of Best Buy from $65.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $76.33.
Large investors have recently modified their holdings of the stock. Signet Investment Advisory Group Inc. bought a new stake in Best Buy in the 4th quarter valued at about $31,000. PRW Wealth Management LLC bought a new stake in Best Buy in the 4th quarter valued at about $33,000. Larson Financial Group LLC bought a new stake in Best Buy in the 4th quarter valued at about $33,000. Semmax Financial Advisors Inc. bought a new stake in Best Buy in the 4th quarter valued at about $33,000. Finally, Pearl River Capital LLC bought a new stake in Best Buy in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 82.76% of the company’s stock.
About Best Buy
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.
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