Richard Schulze Sells 74,553 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) Chairman Richard Schulze sold 74,553 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the sale, the chairman owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Best Buy Price Performance

BBY opened at $82.23 on Friday. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $95.49. The company has a 50 day moving average of $76.89 and a two-hundred day moving average of $71.84. The company has a market cap of $17.28 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.21 and a beta of 1.23.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. Best Buy’s revenue for the quarter was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 4.6%. The ex-dividend date was Thursday, September 18th. Best Buy’s payout ratio is currently 104.97%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Best Buy by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 23,395,055 shares of the technology retailer’s stock valued at $1,570,510,000 after acquiring an additional 419,312 shares during the last quarter. State Street Corp boosted its stake in Best Buy by 3.8% during the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock valued at $927,753,000 after acquiring an additional 496,215 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Best Buy by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer’s stock valued at $472,495,000 after acquiring an additional 69,533 shares during the last quarter. Invesco Ltd. lifted its position in shares of Best Buy by 15.8% in the 2nd quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock worth $305,351,000 after buying an additional 621,863 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Best Buy by 39.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer’s stock worth $235,064,000 after buying an additional 991,141 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating and set a $90.00 price target on shares of Best Buy in a report on Friday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Jefferies Financial Group raised their price target on shares of Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $90.00 price target on shares of Best Buy in a report on Friday, August 29th. Finally, Evercore ISI raised their price target on shares of Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $81.69.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.