Key Points
- Best Buy Chairman Richard Schulze sold 76,299 shares on June 15 at an average price of $78.23, totaling about $5.97 million. After the sale, he still directly owned more than 10.85 million shares.
- Best Buy recently beat quarterly expectations, reporting EPS of $1.28 versus the $1.23 consensus and revenue of $8.94 billion versus estimates of $8.82 billion. Revenue rose 1.9% year over year.
- The company also reaffirmed investor appeal with a quarterly dividend of $0.96 per share, implying an annualized yield of 5.2%. The stock was trading down 3.2% in the session referenced.
Best Buy Co., Inc. (NYSE:BBY - Get Free Report) Chairman Richard Schulze sold 5,100 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $78.00, for a total value of $397,800.00. Following the completion of the sale, the chairman owned 10,849,537 shares in the company, valued at approximately $846,263,886. This represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Best Buy Trading Down 3.2%
BBY stock opened at $73.16 on Thursday. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $84.99. The firm has a market cap of $15.42 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.01 and a beta of 1.30. The business's 50 day moving average is $65.17 and its 200-day moving average is $66.60. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38.
Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the company posted $1.15 EPS. The company's revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities analysts anticipate that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.
Best Buy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Thursday, June 18th. Best Buy's dividend payout ratio is currently 71.11%.
Institutional Investors Weigh In On Best Buy
A number of large investors have recently bought and sold shares of the business. Huntington National Bank grew its position in Best Buy by 12.0% during the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer's stock worth $98,000 after acquiring an additional 139 shares during the last quarter. Krane Funds Advisors LLC lifted its holdings in Best Buy by 3.0% during the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer's stock worth $346,000 after buying an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer's stock worth $1,114,000 after buying an additional 152 shares in the last quarter. Applied Finance Capital Management LLC lifted its holdings in Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer's stock worth $286,000 after buying an additional 157 shares in the last quarter. Finally, International Private Wealth Advisors LLC lifted its holdings in Best Buy by 5.2% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer's stock worth $224,000 after buying an additional 165 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on BBY shares. JPMorgan Chase & Co. upped their price objective on Best Buy from $76.00 to $84.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Wells Fargo & Company upped their price objective on Best Buy from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, May 28th. Daiwa Securities Group increased their price target on Best Buy from $68.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. UBS Group restated a "neutral" rating and set a $86.00 price target (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. Finally, Wedbush increased 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. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Best Buy currently has a consensus rating of "Hold" and an average price target of $79.05.
View Our Latest Analysis on Best Buy
Best Buy Company Profile
(
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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