Best Buy Co Inc (NYSE:BBY) declared a quarterly dividend on Friday, August 30th, RTT News reports. Investors of record on Thursday, September 19th will be given a dividend of 0.50 per share by the technology retailer on Thursday, October 10th. This represents a $2.00 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, September 18th.

Best Buy has increased its dividend by an average of 25.1% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Best Buy has a payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Best Buy to earn $6.04 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 33.1%.

Best Buy stock opened at $67.54 on Monday. Best Buy has a fifty-two week low of $47.72 and a fifty-two week high of $81.66. The stock has a market cap of $17.89 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.11. The firm’s 50-day simple moving average is $68.23 and its 200 day simple moving average is $69.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.39 and a current ratio of 1.08.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.09. Best Buy had a net margin of 3.52% and a return on equity of 48.56%. The business had revenue of $9.54 billion for the quarter, compared to analysts’ expectations of $9.55 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts predict that Best Buy will post 5.75 EPS for the current fiscal year.

In other Best Buy news, Director Lisa Caputo sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $75.20, for a total value of $188,000.00. Following the completion of the transaction, the director now owns 45,936 shares of the company’s stock, valued at approximately $3,454,387.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Victor Kathy J. Higgins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $72.50, for a total transaction of $725,000.00. Following the completion of the transaction, the director now directly owns 54,126 shares of the company’s stock, valued at approximately $3,924,135. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,381,448 shares of company stock worth $101,304,357. Insiders own 0.95% of the company’s stock.

Several research firms recently weighed in on BBY. Wedbush restated a “buy” rating and set a $63.00 price target on shares of Best Buy in a report on Thursday, August 29th. Goldman Sachs Group assumed coverage on shares of Best Buy in a report on Thursday, July 11th. They set a “neutral” rating and a $73.00 price target on the stock. Cleveland Research reaffirmed a “neutral” rating on shares of Best Buy in a research report on Tuesday, June 18th. Morgan Stanley lowered their price objective on shares of Best Buy from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Finally, Bank of America set a $75.00 price objective on shares of Best Buy and gave the stock a “hold” rating in a research report on Monday, August 26th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $77.13.

Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

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Dividend History for Best Buy (NYSE:BBY)

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