Best Buy Co., Inc. (NYSE:BBY) CFO Matthew M. Bilunas Sells 9,482 Shares

Best Buy Co., Inc. (NYSE:BBY) CFO Matthew M. Bilunas sold 9,482 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $688,867.30. Following the completion of the transaction, the chief financial officer now directly owns 106,856 shares of the company’s stock, valued at approximately $7,763,088.40. This trade represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Best Buy Stock Performance

Shares of Best Buy stock opened at $72.28 on Friday. 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’s fifty day moving average price is $82.51 and its 200-day moving average price is $88.31. The firm has a market cap of $15.28 billion, a P/E ratio of 12.36, 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.

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

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s dividend payout ratio is 88.99%.

Hedge Funds Weigh In On Best Buy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its position in shares of Best Buy by 4.1% during the third quarter. Citigroup Inc. now owns 320,816 shares of the technology retailer’s stock valued at $33,140,000 after buying an additional 12,694 shares during the last quarter. Cerity Partners LLC lifted its position in Best Buy by 31.9% during the third quarter. Cerity Partners LLC now owns 165,627 shares of the technology retailer’s stock valued at $17,109,000 after acquiring an additional 40,076 shares during the last quarter. Larson Financial Group LLC boosted its stake in Best Buy by 54.1% in the third quarter. Larson Financial Group LLC now owns 5,463 shares of the technology retailer’s stock valued at $564,000 after acquiring an additional 1,918 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Best Buy by 16.6% in the third quarter. Daiwa Securities Group Inc. now owns 24,720 shares of the technology retailer’s stock worth $2,554,000 after purchasing an additional 3,511 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Best Buy by 5.1% during the third quarter. The Manufacturers Life Insurance Company now owns 152,985 shares of the technology retailer’s stock worth $15,803,000 after purchasing an additional 7,430 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on BBY shares. Evercore ISI lowered their price target on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. Wedbush reiterated a “neutral” rating and issued a $90.00 target price on shares of Best Buy in a report on Monday, March 3rd. Barclays decreased their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Finally, Truist Financial reduced their target price on shares of Best Buy from $95.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.