Insider Selling: Best Buy Co Inc (BBY) Insider Sells 1,569 Shares of Stock
Best Buy Co Inc (NYSE:BBY) insider Patricia H. Walker sold 1,569 shares of the firm’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $68.72, for a total value of $107,821.68. Following the completion of the transaction, the insider now owns 35,552 shares in the company, valued at approximately $2,443,133.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Best Buy stock opened at $67.80 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $20,474.55, a PE ratio of 20.74, a P/E/G ratio of 0.97 and a beta of 1.09. Best Buy Co Inc has a 52-week low of $44.54 and a 52-week high of $78.59.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, March 1st. The technology retailer reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.37. The firm had revenue of $15.36 billion during the quarter, compared to the consensus estimate of $14.52 billion. Best Buy had a return on equity of 32.68% and a net margin of 2.37%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the company earned $1.93 EPS. analysts predict that Best Buy Co Inc will post 4.97 earnings per share for the current fiscal year.
A number of research analysts have weighed in on BBY shares. Loop Capital set a $80.00 price objective on Best Buy and gave the company a “buy” rating in a report on Tuesday, January 16th. ValuEngine upgraded Best Buy from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group restated a “buy” rating and issued a $74.00 price objective (up previously from $60.00) on shares of Best Buy in a report on Tuesday, February 27th. Bank of America raised their price objective on Best Buy from $78.00 to $87.00 and gave the company a “buy” rating in a report on Friday, March 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $74.00 price target (up previously from $66.00) on shares of Best Buy in a report on Friday, March 2nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.42.
Several large investors have recently modified their holdings of BBY. Renaissance Technologies LLC increased its position in shares of Best Buy by 61.0% during the 4th quarter. Renaissance Technologies LLC now owns 3,379,200 shares of the technology retailer’s stock worth $231,374,000 after purchasing an additional 1,280,600 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Best Buy during the 4th quarter worth about $86,840,000. Bank of New York Mellon Corp increased its position in shares of Best Buy by 31.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,279,548 shares of the technology retailer’s stock worth $361,491,000 after purchasing an additional 1,264,528 shares during the last quarter. Capital Growth Management LP acquired a new stake in shares of Best Buy during the 4th quarter worth about $50,668,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Best Buy by 6,630.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 645,175 shares of the technology retailer’s stock worth $44,175,000 after purchasing an additional 635,589 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.
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.
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