Best Buy Co Inc (NYSE:BBY) major shareholder Richard M. Schulze sold 250,000 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.83, for a total value of $16,707,500.00. Following the transaction, the insider now owns 1,732,500 shares of the company’s stock, valued at $115,782,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Best Buy Co Inc (BBY) traded up $0.93 on Wednesday, hitting $66.73. The stock had a trading volume of 2,734,268 shares, compared to its average volume of 4,460,150. Best Buy Co Inc has a 52 week low of $41.67 and a 52 week high of $67.28. The firm has a market capitalization of $19,240.00, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.42 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.78. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. Best Buy had a return on equity of 22.46% and a net margin of 2.55%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. analysts forecast that Best Buy Co Inc will post 4.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a yield of 2.04%. Best Buy’s payout ratio is currently 34.43%.

A number of large investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC lifted its holdings in Best Buy by 2.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,396,332 shares of the technology retailer’s stock worth $79,535,000 after purchasing an additional 30,414 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in Best Buy by 17.1% during the 3rd quarter. TrimTabs Asset Management LLC now owns 6,767 shares of the technology retailer’s stock worth $385,000 after acquiring an additional 990 shares during the period. Gyroscope Capital Management Group LLC increased its stake in Best Buy by 4.5% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 103,033 shares of the technology retailer’s stock worth $5,869,000 after acquiring an additional 4,469 shares during the period. Belpointe Asset Management LLC bought a new position in Best Buy during the 3rd quarter worth $482,000. Finally, IFM Investors Pty Ltd bought a new position in Best Buy during the 3rd quarter worth $462,000. 88.45% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. Moffett Nathanson assumed coverage on Best Buy in a report on Monday, December 4th. They set a “sell” rating for the company. Wedbush set a $32.00 price objective on Best Buy and gave the stock a “sell” rating in a report on Wednesday, November 29th. Deutsche Bank set a $56.00 price objective on Best Buy and gave the stock a “hold” rating in a report on Friday, November 17th. Loop Capital set a $72.00 price objective on Best Buy and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, Oppenheimer reiterated a “hold” rating on shares of Best Buy in a report on Thursday, November 16th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Best Buy currently has an average rating of “Hold” and a consensus price target of $58.81.

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Best Buy Company Profile

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.

Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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