Best Buy Co Inc (NYSE:BBY) COO Rajendra M. Mohan sold 2,594 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $51.75, for a total transaction of $134,239.50. Following the completion of the sale, the chief operating officer now directly owns 143,480 shares in the company, valued at approximately $7,425,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE BBY opened at $60.56 on Thursday. The company’s 50-day moving average price is $76.28 and its 200-day moving average price is $77.54. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 0.98. The stock has a market cap of $15.32 billion, a PE ratio of 9.66, a PEG ratio of 1.23 and a beta of 1.14. Best Buy Co Inc has a 12 month low of $48.10 and a 12 month high of $91.99.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, February 27th. The technology retailer reported $2.90 EPS for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.15. The firm had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.05 billion. Best Buy had a net margin of 3.53% and a return on equity of 49.17%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.72 earnings per share. As a group, sell-side analysts forecast that Best Buy Co Inc will post 6.32 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Thursday, March 19th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This is a boost from Best Buy’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.63%. Best Buy’s dividend payout ratio is presently 36.24%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. HighMark Wealth Management LLC bought a new position in shares of Best Buy in the fourth quarter worth about $177,000. Quadrant Capital Group LLC grew its holdings in shares of Best Buy by 65.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,049 shares of the technology retailer’s stock worth $82,000 after purchasing an additional 414 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Best Buy by 516.0% during the 4th quarter. Macquarie Group Ltd. now owns 98,517 shares of the technology retailer’s stock worth $8,650,000 after acquiring an additional 82,523 shares in the last quarter. Franklin Resources Inc. grew its holdings in Best Buy by 32.4% during the 4th quarter. Franklin Resources Inc. now owns 206,676 shares of the technology retailer’s stock worth $18,147,000 after acquiring an additional 50,635 shares in the last quarter. Finally, Danda Trouve Investment Management Inc. bought a new position in Best Buy during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 78.59% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Guggenheim reissued a “buy” rating and issued a $100.00 target price (up previously from $90.00) on shares of Best Buy in a research note on Thursday, January 9th. Barclays reissued a “buy” rating and issued a $75.00 target price on shares of Best Buy in a research note on Tuesday, March 17th. Oppenheimer reissued a “buy” rating and issued a $105.00 target price (up previously from $86.00) on shares of Best Buy in a research note on Friday, February 7th. Royal Bank of Canada reissued a “buy” rating on shares of Best Buy in a research note on Monday. Finally, Telsey Advisory Group reissued a “market perform” rating on shares of Best Buy in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.18.

About Best Buy

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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Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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