Best Buy Co., Inc. (BBY) Major Shareholder Richard M. Schulze Sells 200,000 Shares of Stock
Best Buy Co., Inc. (NYSE:BBY) major shareholder Richard M. Schulze sold 200,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $64.14, for a total transaction of $12,828,000.00. Following the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at $111,122,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Best Buy Co., Inc. (NYSE:BBY) traded up $1.57 during midday trading on Friday, reaching $65.32. 6,902,394 shares of the company traded hands, compared to its average volume of 4,460,647. Best Buy Co., Inc. has a twelve month low of $41.67 and a twelve month high of $64.80. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The firm has a market cap of $18,822.90, a P/E ratio of 16.02, a P/E/G ratio of 1.36 and a beta of 1.40.
Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. sell-side analysts anticipate that Best Buy Co., Inc. will post 4.02 EPS for the current fiscal year.
BBY has been the topic of a number of recent analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $71.00 target price on shares of Best Buy in a research note on Friday, September 1st. Wedbush reiterated a “buy” rating and issued a $33.00 target price (up previously from $29.00) on shares of Best Buy in a research report on Thursday, August 31st. UBS reiterated a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Best Buy in a research report on Thursday, August 31st. Deutsche Bank reiterated a “buy” rating and set a $58.00 target price (down from $60.00) on shares of Best Buy in a research report on Thursday, August 31st. Finally, SunTrust Banks reissued a “buy” rating on shares of Best Buy in a report on Thursday, August 31st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Best Buy presently has a consensus rating of “Hold” and an average price target of $58.81.
A number of institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale grew its holdings in shares of Best Buy by 66.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 81,188 shares of the technology retailer’s stock worth $4,732,000 after purchasing an additional 32,516 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Best Buy by 4.5% in the second quarter. Advisors Asset Management Inc. now owns 89,659 shares of the technology retailer’s stock valued at $5,140,000 after purchasing an additional 3,862 shares during the last quarter. Savant Capital LLC bought a new stake in Best Buy in the second quarter valued at approximately $228,000. LMR Partners LLP bought a new stake in Best Buy in the second quarter valued at approximately $1,969,000. Finally, State of Wisconsin Investment Board raised its holdings in shares of Best Buy by 30.0% during the second quarter. State of Wisconsin Investment Board now owns 249,038 shares of the technology retailer’s stock valued at $14,277,000 after acquiring an additional 57,430 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.
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About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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