Key Points
- Best Buy Chairman Richard Schulze sold 193,896 shares on June 25 at an average price of $78.13, generating about $15.15 million. After the sale, he still owned 10.66 million shares, and the transaction reduced his stake by 1.79%.
- Best Buy reported solid quarterly results, posting EPS of $1.28 versus expectations of $1.23 and revenue of $8.94 billion versus $8.82 billion expected. Revenue rose 1.9% year over year, and the company reaffirmed FY 2027 EPS guidance of 6.30 to 6.60.
- The company also announced a dividend of $0.96 per share, payable July 9, which annualizes to $3.84 per share for a 4.9% yield. Best Buy’s payout ratio is 71.11%, and analysts currently have a consensus rating of “Hold” with a $79.50 target price.
Best Buy Co., Inc. (NYSE:BBY - Get Free Report) Chairman Richard Schulze sold 193,896 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $78.13, for a total value of $15,149,094.48. Following the transaction, the chairman directly owned 10,655,641 shares in the company, valued at approximately $832,525,231.33. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Best Buy Trading Up 1.3%
Shares of Best Buy stock opened at $77.91 on Friday. 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 52 week low of $55.10 and a 52 week high of $84.99. The stock has a 50 day moving average price of $67.01 and a two-hundred day moving average price of $66.68. The stock has a market capitalization of $16.42 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30.
Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS 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 firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company'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, equities analysts anticipate that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal 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 paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, June 18th. Best Buy's payout ratio is 71.11%.
Institutional Investors Weigh In On Best Buy
A number of institutional investors and hedge funds have recently bought and sold shares of BBY. AQR Capital Management LLC lifted its stake in Best Buy by 99.8% during the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer's stock valued at $525,120,000 after acquiring an additional 3,496,254 shares in the last quarter. Norges Bank bought a new stake in shares of Best Buy in the 4th quarter worth $174,685,000. Schroder Investment Management Group grew its stake in shares of Best Buy by 378.8% in the 4th quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer's stock worth $207,216,000 after acquiring an additional 2,449,342 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Best Buy by 104.1% in the fourth quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer's stock valued at $135,685,000 after purchasing an additional 1,030,544 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Best Buy by 293.6% in the fourth quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer's stock valued at $70,464,000 after purchasing an additional 785,294 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on BBY shares. Truist Financial upped their price objective on shares of Best Buy from $66.00 to $81.00 and gave the stock a "hold" rating in a report on Friday, May 29th. DA Davidson reiterated a "buy" rating and set a $90.00 price objective on shares of Best Buy in a report on Monday, June 22nd. Telsey Advisory Group set a $90.00 target price on shares of Best Buy and gave the stock an "outperform" rating in a research report on Friday, May 29th. Jefferies Financial Group upped their target price on shares of Best Buy from $83.00 to $89.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Finally, Wells Fargo & Company raised their price target on shares of Best Buy from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Thursday, May 28th. 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 stock. Based on data from MarketBeat, Best Buy has a consensus rating of "Hold" and a consensus target price of $79.50.
View Our Latest Report 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
