Best Buy Co., Inc. (NYSE:BBY) CAO Sells $214,390.15 in 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 stock was sold at an average price of $72.65, for a total value of $214,390.15. Following the completion of the transaction, the chief accounting officer now directly owns 21,371 shares in the company, valued at $1,552,603.15. This represents a 12.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

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

Best Buy Trading Up 0.2 %

Best Buy stock traded up $0.16 during mid-day trading on Wednesday, hitting $74.78. The stock had a trading volume of 2,397,876 shares, compared to its average volume of 2,964,175. The stock has a market capitalization of $15.81 billion, a PE ratio of 12.78, a P/E/G 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 stock has a 50-day simple moving average of $83.01 and a two-hundred day simple moving average of $88.68.

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

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is presently 88.99%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Best Buy by 144.0% in the fourth quarter. Wellington Management Group LLP now owns 5,683 shares of the technology retailer’s stock worth $488,000 after purchasing an additional 3,354 shares during the period. DSG Capital Advisors LLC bought a new position in Best Buy during the fourth quarter worth about $2,777,000. Wealth Enhancement Advisory Services LLC grew its stake in Best Buy by 49.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 172,806 shares of the technology retailer’s stock valued at $14,827,000 after acquiring an additional 57,520 shares during the period. Siemens Fonds Invest GmbH increased its holdings in shares of Best Buy by 254.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 15,349 shares of the technology retailer’s stock worth $1,317,000 after acquiring an additional 11,024 shares in the last quarter. Finally, GHE LLC raised its position in shares of Best Buy by 4.3% during the fourth quarter. GHE LLC now owns 19,163 shares of the technology retailer’s stock worth $1,644,000 after purchasing an additional 788 shares during the period. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BBY. Barclays cut their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Jefferies Financial Group lowered their price target on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. UBS Group set a $105.00 price target on shares of Best Buy in a report on Wednesday, March 5th. Citigroup lowered their price objective on Best Buy from $105.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, DA Davidson dropped their price target on shares of Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy 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.