Insider Selling: Best Buy (NYSE:BBY) Chairman Sells $38,086,642.00 in Stock

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

Best Buy Stock Performance

Shares of BBY stock opened at $70.95 on Friday. The business’s fifty day simple moving average is $63.05 and its 200-day simple moving average is $66.68. The company has a market cap of $14.95 billion, a PE ratio of 13.14, a PEG ratio of 1.91 and a beta of 1.30. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $84.99.

Best Buy (NYSE:BBY) last issued its quarterly 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. The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.4%. Best Buy’s dividend payout ratio is presently 71.11%.

Hedge Funds Weigh In On Best Buy

Several hedge funds have recently made changes to their positions in BBY. Torren Management LLC acquired a new position in shares of Best Buy in the 4th quarter valued at $25,000. MV Capital Management Inc. purchased a new stake in Best Buy in the fourth quarter valued at $25,000. Palisade Asset Management LLC purchased a new stake in Best Buy in the third quarter valued at $25,000. Hillsdale Investment Management Inc. purchased a new stake in Best Buy in the fourth quarter valued at $29,000. Finally, Quest 10 Wealth Builders Inc. boosted its holdings in Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 311 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Key Best Buy News

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

• Positive Sentiment: Best Buy delivered a solid quarterly beat and reported its first positive comparable sales growth in years, with strength in AI laptops, gaming, and other emerging tech categories. Yahoo Finance
• Positive Sentiment: Management highlighted improving momentum in higher-margin businesses such as Marketplace and Best Buy Ads, which could support earnings quality if the trend continues. Yahoo Finance
• Positive Sentiment: Several analysts raised price targets on Best Buy after the quarterly results, reinforcing confidence that the stock can hold recent gains. MarketBeat
• Neutral Sentiment: Articles discussing whether Best Buy is still attractive after its recent run-up suggest the stock may be pausing as investors reassess valuation after the rally. Yahoo Finance
• Negative Sentiment: Insider selling, including a large share sale by Chairman Richard Schulze and a smaller sale by the CAO, could temper enthusiasm even after the strong earnings report. American Banking News

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BBY shares. Loop Capital upped their price target on Best Buy from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Weiss Ratings downgraded Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Daiwa Securities Group upped their target price on Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday. Telsey Advisory Group set a $90.00 target price on Best Buy and gave the company an “outperform” rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group upped their target price on Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Best Buy has an average rating of “Hold” and an average price target 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.