Mathew Watson Sells 1,784 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson sold 1,784 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of the transaction, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 23rd, Mathew Watson sold 3,298 shares of Best Buy stock. The stock was sold at an average price of $64.02, for a total value of $211,137.96.

Best Buy Price Performance

Shares of BBY opened at $71.84 on Thursday. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $84.99. The business’s fifty day moving average is $62.87 and its 200 day moving average is $66.72. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a market cap of $15.14 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.94 and a beta of 1.30.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period last year, the business earned $1.15 EPS. Best Buy’s quarterly revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.55 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be paid a dividend of $0.96 per share. The ex-dividend date is Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 5.3%. Best Buy’s dividend payout ratio is presently 71.11%.

Best Buy News Roundup

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Daiwa Securities lifted its price target on BBY to $77 from $68, suggesting improved expectations even though the firm kept a neutral rating. Other analysts also raised targets recently, which can help support the stock. MarketScreener
• Positive Sentiment: Best Buy’s latest quarterly results topped estimates on both EPS and revenue, and management maintained its FY2027 outlook, reinforcing the view that the business is executing well. Yahoo Finance
• Positive Sentiment: Media coverage around Best Buy’s AI laptop assortment, marketplace growth, and other new product initiatives has fueled optimism that the retailer may be finding new growth drivers. MarketBeat
• Neutral Sentiment: Jim Cramer highlighted Best Buy in recent commentary, and other coverage noted the stock’s strong year-to-date performance and dividend yield. These items may support sentiment, but they are not direct catalysts. Yahoo Finance
• Negative Sentiment: Chairman Richard M. Schulze sold 500,350 shares, and CAO Mathew Watson also sold shares. Insider selling can weigh on investor confidence, especially after a strong run in the stock. SEC filing
• Negative Sentiment: One report said BBY underperformed peers on Tuesday, hinting that traders may be rotating away from the stock despite recent operational improvements. MarketWatch

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BBY. Huntington National Bank boosted its position in shares of Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after purchasing an additional 139 shares in the last quarter. Krane Funds Advisors LLC boosted its position in shares of Best Buy by 3.0% during the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after purchasing an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Best Buy by 0.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after acquiring an additional 152 shares in the last quarter. Applied Finance Capital Management LLC boosted its holdings in Best Buy by 3.8% in the fourth quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after acquiring an additional 157 shares in the last quarter. Finally, International Private Wealth Advisors LLC boosted its holdings in Best Buy by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock worth $224,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

BBY has been the subject of several research reports. Loop Capital increased their price target on Best Buy from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Morgan Stanley increased their price target on Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Wedbush increased their price target on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Jefferies Financial Group increased their price target on Best Buy from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, BNP Paribas Exane increased their price target on Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.05.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.