Best Buy Co Inc (NYSE:BBY) major shareholder Richard M. Schulze sold 418,812 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $72.06, for a total transaction of $30,179,592.72. Following the completion of the transaction, the insider now directly owns 1,732,500 shares of the company’s stock, valued at $124,843,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
NYSE:BBY opened at $73.75 on Friday. Best Buy Co Inc has a twelve month low of $47.72 and a twelve month high of $84.37. The company has a market capitalization of $19.25 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. The stock’s fifty day simple moving average is $67.22. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.39 and a current ratio of 1.12.
Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 23rd. The technology retailer reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.14. Best Buy had a return on equity of 47.91% and a net margin of 3.54%. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period last year, the company earned $0.82 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts forecast that Best Buy Co Inc will post 5.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, June 13th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 12th. This represents a $2.00 annualized dividend and a dividend yield of 2.71%. Best Buy’s dividend payout ratio (DPR) is 37.59%.
A number of research analysts recently weighed in on the stock. Oppenheimer set a $22.00 target price on shares of Par Pacific and gave the company a “buy” rating in a report on Monday, March 25th. Evercore ISI started coverage on shares of Polarityte in a report on Wednesday, March 20th. They issued an “outperform” rating and a $26.00 target price for the company. Guggenheim started coverage on Best Buy in a research report on Monday. They issued a “buy” rating and a $80.00 price target for the company. Zacks Investment Research downgraded German American Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Goldman Sachs Group upgraded Altria Group from a “neutral” rating to a “buy” rating in a research report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $77.67.
Several large investors have recently added to or reduced their stakes in BBY. First Citizens Bank & Trust Co. raised its holdings in shares of Best Buy by 0.5% in the second quarter. First Citizens Bank & Trust Co. now owns 39,465 shares of the technology retailer’s stock valued at $2,752,000 after acquiring an additional 204 shares in the last quarter. AMF Pensionsforsakring AB raised its holdings in shares of Best Buy by 2.2% in the second quarter. AMF Pensionsforsakring AB now owns 286,596 shares of the technology retailer’s stock valued at $19,984,000 after acquiring an additional 6,303 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Best Buy in the second quarter valued at about $216,000. Chesley Taft & Associates LLC bought a new stake in shares of Best Buy in the second quarter valued at about $394,000. Finally, Retirement Systems of Alabama raised its holdings in shares of Best Buy by 78.2% in the second quarter. Retirement Systems of Alabama now owns 194,276 shares of the technology retailer’s stock valued at $13,547,000 after acquiring an additional 85,261 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.
Best Buy Company Profile
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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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