Best Buy Co Inc (NYSE:BBY) was the target of some unusual options trading activity on Wednesday. Stock investors bought 1,986 put options on the stock. This represents an increase of approximately 592% compared to the typical volume of 287 put options.

In other Best Buy Co news, CFO Corie S. Barry sold 787 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $47,157.04. Following the completion of the sale, the chief financial officer now owns 54,159 shares in the company, valued at approximately $3,245,207.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shari L. Ballard sold 2,246 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $134,580.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 166,259 shares of company stock valued at $9,182,693. 1.21% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB grew its position in Best Buy Co by 0.3% in the second quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock worth $860,000 after acquiring an additional 48 shares during the period. Advisor Group Inc. grew its position in Best Buy Co by 1.2% in the second quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock worth $265,000 after acquiring an additional 55 shares during the period. CENTRAL TRUST Co grew its position in Best Buy Co by 1.9% in the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock worth $304,000 after acquiring an additional 100 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Best Buy Co by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after acquiring an additional 163 shares during the period. Finally, Thrivent Financial For Lutherans grew its position in Best Buy Co by 1.7% in the second quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock worth $576,000 after acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.

A number of equities research analysts have issued reports on BBY shares. Loop Capital reiterated a “buy” rating and issued a $72.00 target price on shares of Best Buy Co in a research report on Monday, July 10th. Deutsche Bank AG reiterated a “buy” rating and issued a $60.00 target price on shares of Best Buy Co in a research report on Thursday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 target price on shares of Best Buy Co in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Best Buy Co from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. set a $70.00 target price on shares of Best Buy Co and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $58.97.

Shares of Best Buy Co (NYSE BBY) opened at $56.92 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.42 and a debt-to-equity ratio of 0.30. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.42. Best Buy Co has a 12-month low of $37.10 and a 12-month high of $63.32.

Best Buy Co (NYSE:BBY) last posted its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The business had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. Best Buy Co had a return on equity of 27.41% and a net margin of 3.00%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. sell-side analysts predict that Best Buy Co will post 4.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th were given a $0.34 dividend. The ex-dividend date was Monday, September 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.39%. Best Buy Co’s dividend payout ratio (DPR) is presently 36.07%.

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About Best Buy Co

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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