Best Buy (NYSE:BBY) CAO Mathew Watson Sells 1,784 Shares

Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson sold 1,784 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares in the company, valued at $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Mathew Watson also recently made the following trade(s):

• On Monday, March 23rd, Mathew Watson sold 3,298 shares of Best Buy stock. The stock was sold at an average price of $64.02, for a total value of $211,137.96.

Best Buy Stock Performance

Best Buy stock opened at $72.93 on Wednesday. The stock’s 50 day moving average price is $62.51 and its 200 day moving average price is $66.78. The firm has a market capitalization of $15.37 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.Best Buy’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.54 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be issued a dividend of $0.96 per share. The ex-dividend date is Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 5.3%. Best Buy’s payout ratio is currently 71.11%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BBY shares. Citigroup lifted their price objective on Best Buy from $60.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. HSBC dropped their price objective on Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Telsey Advisory Group set a $90.00 price objective on Best Buy and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group boosted their price target on Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Loop Capital boosted their price target on Best Buy from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and an average price target of $79.05.

Best Buy News Roundup

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Daiwa Securities raised its price target on Best Buy to $77 from $68, keeping a neutral rating. The higher target suggests improved expectations for the shares and supports the recent move higher in the stock. MarketScreener
• Positive Sentiment: Best Buy’s latest earnings results were stronger than expected, with revenue and EPS beating estimates and management maintaining its fiscal 2027 outlook. That kind of execution can help support investor confidence in the stock. Yahoo Finance
• Positive Sentiment: Commentary around Best Buy’s marketplace growth, Best Buy Ads, new product launches, and an AI-laptop boost has added to optimism that the retailer can keep improving growth trends. MSN
• Neutral Sentiment: Jim Cramer highlighted Best Buy as a stock some investors may be overlooking, and other coverage noted the company’s strong year-to-date performance and attractive dividend yield. These items may help sentiment, but they are not direct catalysts. Yahoo Finance
• Negative Sentiment: Best Buy Chairman Richard M. Schulze sold 500,350 shares worth about $38.1 million, and CAO Mathew Watson also sold shares. Insider selling can sometimes weigh on investor sentiment, especially after a strong run in the stock. SEC filing
• Negative Sentiment: One market report said Best Buy stock underperformed competitors on Tuesday, which may signal that traders are rotating toward other retail names despite the company’s recent operational progress. MarketWatch

Institutional Investors Weigh In On Best Buy

A number of institutional investors have recently made changes to their positions in the company. Woodline Partners LP grew its stake in Best Buy by 40.1% during the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock worth $1,210,000 after buying an additional 4,701 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Best Buy by 4.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer’s stock worth $1,984,000 after buying an additional 1,234 shares during the last quarter. Investment Management Corp of Ontario grew its stake in Best Buy by 127.7% during the 2nd quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer’s stock worth $872,000 after buying an additional 7,288 shares during the last quarter. Ieq Capital LLC grew its stake in Best Buy by 155.4% during the 2nd quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer’s stock worth $10,779,000 after buying an additional 97,688 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Best Buy by 32.0% during the 2nd quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer’s stock worth $21,051,000 after buying an additional 76,102 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.