Best Buy (NYSE:BBY) Chairman Sells $397,800.00 in Stock

Best Buy Co., Inc. (NYSE:BBY) Chairman Richard Schulze sold 5,100 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $78.00, for a total value of $397,800.00. Following the sale, the chairman owned 10,849,537 shares of the company’s stock, valued at approximately $846,263,886. The trade was a 0.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Best Buy Stock Performance

Shares of BBY opened at $74.89 on Friday. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.99 and a beta of 1.30. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $84.99. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $65.59 and a 200 day moving average price of $66.62.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter last year, the company earned $1.15 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts predict that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio is currently 71.11%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Torren Management LLC acquired a new stake in Best Buy in the fourth quarter valued at $25,000. MV Capital Management Inc. acquired a new position in shares of Best Buy during the 4th quarter worth $25,000. Palisade Asset Management LLC purchased a new position in shares of Best Buy in the 3rd quarter valued at about $25,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Best Buy in the fourth quarter valued at about $29,000. Finally, Quest 10 Wealth Builders Inc. lifted its stake in shares of Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BBY. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, May 29th. DA Davidson reaffirmed a “buy” rating and set a $78.00 price target on shares of Best Buy in a research report on Friday, May 29th. Weiss Ratings upgraded shares of Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. HSBC dropped their target price on Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Finally, Daiwa Securities Group increased their price target on shares of Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Best Buy presently has a consensus rating of “Hold” and a consensus price target of $79.05.

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.