Best Buy (NYSE:BBY) Chairman Richard Schulze Sells 500,350 Shares

Best Buy Co., Inc. (NYSE:BBY) Chairman Richard Schulze sold 500,350 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the sale, the chairman owned 10,930,586 shares in the company, valued at $832,036,206.32. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Best Buy Price Performance

Shares of BBY stock traded down $2.05 during midday trading on Tuesday, reaching $72.93. 4,533,787 shares of the company were exchanged, compared to its average volume of 4,577,129. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $84.99. The company has a market cap of $15.37 billion, a P/E ratio of 13.50, a PEG ratio of 2.09 and a beta of 1.30. The company’s 50 day moving average price is $62.51 and its two-hundred day moving average price is $66.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the firm earned $1.15 EPS. Best Buy’s revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.5 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Thursday, June 18th. Best Buy’s payout ratio is presently 71.11%.

Key Best Buy News

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

• Positive Sentiment: Best Buy’s latest earnings call highlighted growth in Marketplace and Best Buy Ads, along with new tech launches, reinforcing the company’s efforts to expand beyond traditional retail and improve profitability. Best Buy Q1 Earnings Call Highlights Marketplace Growth, CEO Shift
• Positive Sentiment: The company’s Q1 results beat expectations on both revenue and earnings, which supports the view that demand and execution are holding up better than expected. Should You Buy Best Buy Stock for Its 4.9%-Yielding Dividend?
• Positive Sentiment: Commentary from Jim Cramer was bullish, calling attention to Best Buy’s strong performance and suggesting investors may be overlooking the stock’s momentum. Jim Cramer Highlights the Strong Performance of Best Buy
• Positive Sentiment: Best Buy’s AI laptop sales boost and optimism around a potential turnaround are helping sentiment around the stock’s growth prospects. Best Buy’s AI laptop boost sparks hope for a BBY turnaround
• Neutral Sentiment: Daiwa Securities raised its price target on Best Buy to $77 from $68, but kept a neutral rating, signaling improved valuation views without a clear bullish shift. Daiwa Securities Adjusts Price Target on Best Buy to 77 from 68, Maintains Neutral Rating
• Neutral Sentiment: Several articles framed Best Buy as a closely watched retail name with valuation and dividend appeal, but these pieces were mostly discussion-oriented and not major new catalysts. Why Best Buy Remains A Closely Watched Retail Name
• Negative Sentiment: Some market commentary still warns that Wall Street expectations for certain retail stocks remain cautious, which can temper enthusiasm if consumer spending softens. 3 Unpopular Stocks We Approach with Caution
• Negative Sentiment: One recent note also pointed to a sharp pullback in BBY shares earlier in the period, reminding investors that the stock can remain volatile despite improving fundamentals. Best Buy Co Inc (BBY) Stock Down 3.8% — Now Undervalued? GF Score: 72/100

Wall Street Analyst Weigh In

A number of analysts recently commented on BBY shares. Morgan Stanley boosted their target price on shares of Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday. Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday. Citigroup boosted their target price on shares of Best Buy from $60.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday. DA Davidson reiterated a “buy” rating and issued a $78.00 target price on shares of Best Buy in a report on Friday. Finally, The Goldman Sachs Group boosted their target price on shares of Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a report on Friday. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.05.

Institutional Investors Weigh In On Best Buy

A number of large investors have recently made changes to their positions in the company. Woodline Partners LP grew its position in Best Buy by 40.1% during the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock valued at $1,210,000 after purchasing an additional 4,701 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Best Buy by 4.4% during the second quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer’s stock valued at $1,984,000 after purchasing an additional 1,234 shares in the last quarter. Investment Management Corp of Ontario grew its position in Best Buy by 127.7% during the second quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer’s stock valued at $872,000 after purchasing an additional 7,288 shares in the last quarter. Ieq Capital LLC grew its position in Best Buy by 155.4% in the second quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer’s stock worth $10,779,000 after acquiring an additional 97,688 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Best Buy by 32.0% in the second quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer’s stock worth $21,051,000 after acquiring an additional 76,102 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

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.