Key Points
- Best Buy Chairman Richard Schulze sold 500,350 shares on May 29 at an average price of $76.12, totaling about $38.1 million. The sale reduced his ownership by 4.38%, according to an SEC filing.
- Best Buy’s latest quarterly results beat expectations, with EPS of $1.28 versus the $1.23 consensus and revenue of $8.94 billion versus $8.82 billion expected. The company also maintained its fiscal 2027 outlook.
- The company continues to pay a sizable dividend, declaring a quarterly payout of $0.96 per share, or $3.84 annually, which works out to a 5.3% yield. The dividend is set to be paid on July 9.
Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CAO Mathew Watson sold 1,784 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer owned 21,630 shares of the company's stock, valued at approximately $1,596,294. The trade was a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Mathew Watson also recently made the following trade(s):
- On Monday, March 23rd, Mathew Watson sold 3,298 shares of Best Buy stock. The stock was sold at an average price of $64.02, for a total value of $211,137.96.
Best Buy Trading Down 2.7%
Shares of BBY stock opened at $72.93 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $84.99. The stock has a fifty day moving average of $62.51 and a two-hundred day moving average of $66.78. The firm has a market capitalization of $15.37 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.
Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The company had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.54 EPS for the current year.
Best Buy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Thursday, June 18th. Best Buy's payout ratio is 71.11%.
Trending Headlines about Best Buy
Here are the key news stories impacting Best Buy this week:
- Positive Sentiment: Daiwa Securities raised its price target on Best Buy to $77 from $68, keeping a neutral rating. The higher target suggests improved expectations for the shares and supports the recent move higher in the stock. MarketScreener
- Positive Sentiment: Best Buy’s latest earnings results were stronger than expected, with revenue and EPS beating estimates and management maintaining its fiscal 2027 outlook. That kind of execution can help support investor confidence in the stock. Yahoo Finance
- Positive Sentiment: Commentary around Best Buy’s marketplace growth, Best Buy Ads, new product launches, and an AI-laptop boost has added to optimism that the retailer can keep improving growth trends. MSN
- Neutral Sentiment: Jim Cramer highlighted Best Buy as a stock some investors may be overlooking, and other coverage noted the company’s strong year-to-date performance and attractive dividend yield. These items may help sentiment, but they are not direct catalysts. Yahoo Finance
- Negative Sentiment: Best Buy Chairman Richard M. Schulze sold 500,350 shares worth about $38.1 million, and CAO Mathew Watson also sold shares. Insider selling can sometimes weigh on investor sentiment, especially after a strong run in the stock. SEC filing
- Negative Sentiment: One market report said Best Buy stock underperformed competitors on Tuesday, which may signal that traders are rotating toward other retail names despite the company’s recent operational progress. MarketWatch
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Evercore boosted their price target on Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. Truist Financial boosted their price target on Best Buy from $66.00 to $81.00 and gave the stock a "hold" rating in a research report on Friday, May 29th. DA Davidson reiterated a "buy" rating and set a $78.00 price target on shares of Best Buy in a research report on Friday, May 29th. Wedbush boosted their price target on Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 4th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Best Buy currently has an average rating of "Hold" and a consensus price target of $79.05.
Read Our Latest Stock Report on BBY
Institutional Trading of Best Buy
Several institutional investors have recently modified their holdings of BBY. Woodline Partners LP lifted its holdings in shares of Best Buy by 40.1% in the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer's stock valued at $1,210,000 after buying an additional 4,701 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Best Buy by 4.4% in the second quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer's stock valued at $1,984,000 after buying an additional 1,234 shares during the period. Investment Management Corp of Ontario lifted its holdings in shares of Best Buy by 127.7% in the second quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer's stock valued at $872,000 after buying an additional 7,288 shares during the period. Ieq Capital LLC lifted its holdings in shares of Best Buy by 155.4% in the second quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer's stock valued at $10,779,000 after buying an additional 97,688 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Best Buy by 32.0% in the second quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer's stock valued at $21,051,000 after buying an additional 76,102 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.
About Best Buy
(
Get Free Report)
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.
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