Mathew Watson Sells 2,951 Shares of Best Buy Co., Inc. (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson sold 2,951 shares of Best Buy stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $214,390.15. Following the transaction, the chief accounting officer now directly owns 21,371 shares in the company, valued at approximately $1,552,603.15. The trade was a 12.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, March 14th, Mathew Watson sold 3,182 shares of Best Buy stock. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78.

Best Buy Stock Up 0.1 %

Shares of NYSE:BBY opened at $74.89 on Friday. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $82.70 and a 200 day moving average price of $88.48.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period last year, the company earned $2.72 EPS. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.07%. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is presently 88.99%.

Institutional Investors Weigh In On Best Buy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. boosted its stake in shares of Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 311 shares during the period. Vermillion Wealth Management Inc. bought a new stake in Best Buy in the fourth quarter worth about $31,000. Golden State Wealth Management LLC purchased a new position in shares of Best Buy during the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. grew its stake in shares of Best Buy by 186.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock valued at $32,000 after buying an additional 243 shares during the last quarter. Finally, Ancora Advisors LLC raised 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 worth $32,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays decreased their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. Wedbush restated a “neutral” rating and issued a $90.00 price objective on shares of Best Buy in a research report on Monday, March 3rd. Bank of America cut their target price on Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Truist Financial lowered their price target on Best Buy from $95.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Finally, Jefferies Financial Group cut their price objective on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $93.50.

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.