Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CAO Mathew Watson sold 3,520 shares of the firm's stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total value of $290,153.60. Following the transaction, the chief accounting officer now owns 22,118 shares of the company's stock, valued at $1,823,186.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Mathew Watson also recently made the following trade(s):
- On Friday, March 22nd, Mathew Watson sold 2,505 shares of Best Buy stock. The stock was sold at an average price of $81.80, for a total value of $204,909.00.
Best Buy Trading Up 0.2 %
Shares of Best Buy stock opened at $80.01 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $86.11. The stock has a 50 day moving average price of $77.83 and a two-hundred day moving average price of $73.59. The stock has a market capitalization of $17.23 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 2.09 and a beta of 1.49.
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Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.21. The company had revenue of $14.65 billion for the quarter, compared to analysts' expectations of $14.58 billion. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. Best Buy's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.61 earnings per share. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.03 earnings per share for the current fiscal year.
Best Buy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were given a dividend of $0.94 per share. This is a boost from Best Buy's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 annualized dividend and a dividend yield of 4.70%. Best Buy's payout ratio is presently 66.08%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Best Buy from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Barclays lifted their target price on Best Buy from $69.00 to $88.00 and gave the stock an "equal weight" rating in a report on Friday, March 1st. Citigroup lifted their target price on Best Buy from $67.00 to $76.00 and gave the stock a "sell" rating in a report on Friday, March 1st. JPMorgan Chase & Co. upgraded Best Buy from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $89.00 to $101.00 in a report on Friday, March 22nd. Finally, UBS Group lifted their target price on Best Buy from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $84.60.
View Our Latest Stock Analysis on Best Buy
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of BBY. Cary Street Partners Investment Advisory LLC boosted its position in Best Buy by 549.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer's stock worth $25,000 after purchasing an additional 302 shares during the last quarter. Bfsg LLC purchased a new position in Best Buy in the fourth quarter worth $25,000. Rise Advisors LLC boosted its position in Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer's stock worth $26,000 after purchasing an additional 132 shares during the last quarter. Naples Money Management LLC bought a new stake in shares of Best Buy in the fourth quarter valued at $27,000. Finally, Access Investment Management LLC bought a new stake in shares of Best Buy in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 80.96% of the company's stock.
About Best Buy
(
Get Free Report)
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.
Further Reading
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