Best Buy Co., Inc. (NYSE:BBY) major shareholder Richard M. Schulze sold 935,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $60.18, for a total transaction of $56,268,300.00. Following the completion of the transaction, the insider now owns 1,732,500 shares of the company’s stock, valued at approximately $104,261,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.

Shares of Best Buy Co., Inc. (BBY) opened at $61.49 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Best Buy Co., Inc. has a 1 year low of $41.67 and a 1 year high of $63.32. The stock has a market cap of $17,980.00, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.29 and a beta of 1.40.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. equities analysts anticipate that Best Buy Co., Inc. will post 4.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.21%. The ex-dividend date is Wednesday, December 6th. Best Buy’s dividend payout ratio (DPR) is currently 34.43%.

Several research analysts have recently weighed in on the stock. UBS reiterated a “buy” rating and issued a $57.00 price target (down previously from $60.00) on shares of Best Buy in a report on Wednesday, September 20th. Piper Jaffray Companies reiterated a “buy” rating and issued a $68.00 price target on shares of Best Buy in a report on Thursday, September 21st. Loop Capital reiterated a “buy” rating and issued a $72.00 price target on shares of Best Buy in a report on Wednesday, September 20th. Telsey Advisory Group reduced their target price on shares of Best Buy from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, September 20th. Finally, Royal Bank Of Canada reduced their target price on shares of Best Buy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Wednesday, September 20th. Four analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.81.

Several institutional investors and hedge funds have recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Best Buy by 0.3% in the second quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock valued at $860,000 after purchasing an additional 48 shares during the period. Advisor Group Inc. raised its position in shares of Best Buy by 1.2% in the second quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock valued at $265,000 after purchasing an additional 55 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Best Buy by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after purchasing an additional 163 shares during the period. Thrivent Financial For Lutherans raised its position in shares of Best Buy by 1.7% in the second quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock valued at $576,000 after purchasing an additional 170 shares during the period. Finally, Financial Advisors Network Inc. raised its position in shares of Best Buy by 2.3% in the second quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock valued at $433,000 after purchasing an additional 172 shares during the period. 86.50% of the stock is currently owned by institutional investors.

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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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