Key Points
- Best Buy Chairman Richard Schulze sold 300,000 shares at an average price of $92.51, generating approximately $27.75 million in proceeds.
- Best Buy recently reported stronger-than-expected quarterly results, with EPS of $1.47 versus the $1.39 consensus estimate and revenue of $9.78 billion, up 3.6% year over year.
- The company declared a quarterly dividend of $0.96 per share, equivalent to a $3.84 annualized payout and a 4.1% yield. Analysts have a consensus “Hold” rating and an average price target of $85.40.
Best Buy Co., Inc. (NYSE:BBY - Get Free Report) Chairman Richard Schulze sold 300,000 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total transaction of $27,753,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Best Buy Price Performance
BBY opened at $92.95 on Friday. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $95.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. The company's 50 day simple moving average is $86.64 and its 200-day simple moving average is $73.90. The stock has a market capitalization of $19.49 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 2.36 and a beta of 1.28.
Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm had revenue of $9.78 billion during the quarter, compared to analysts' expectations of $9.59 billion. During the same quarter in the previous year, the company posted $1.28 EPS. Best Buy's revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.82 earnings per share for the current fiscal year.
Best Buy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, September 17th. Best Buy's dividend payout ratio (DPR) is 63.89%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MV Capital Management Inc. bought a new stake in shares of Best Buy in the fourth quarter worth about $25,000. Hillsdale Investment Management Inc. bought a new position in shares of Best Buy during the 4th quarter valued at about $29,000. Bayban acquired a new position in shares of Best Buy in the 4th quarter valued at approximately $33,000. Aberdeen Wealth Management LLC acquired a new position in shares of Best Buy in the 2nd quarter valued at approximately $38,000. Finally, Elyxium Wealth LLC bought a new stake in Best Buy during the 4th quarter worth approximately $37,000. 80.96% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BBY has been the topic of several research reports. The Goldman Sachs Group upped their price target on Best Buy from $62.00 to $71.00 and gave the company a "sell" rating in a research note on Friday, August 28th. Wedbush reiterated a "buy" rating on shares of Best Buy in a research report on Monday, August 24th. Loop Capital downgraded shares of Best Buy from a "buy" rating to a "hold" rating and set a $82.00 target price on the stock. in a research report on Monday, July 13th. Evercore upped their target price on shares of Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. Finally, Daiwa Securities Group raised their target price on shares of Best Buy from $68.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, June 2nd. Six equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $85.40.
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About Best Buy
(
Get Free Report)
Best Buy Co, Inc is a specialty retailer of technology products and services operating under the Best Buy brand. The company sells consumer electronics, computers, mobile phones, appliances, entertainment products, smart-home equipment, and related accessories through its retail stores, websites, and other sales channels.
Best Buy also provides technology support, installation, repair, and consultation services through Geek Squad. Its offerings include assistance with device setup, home theater installation, computer and appliance support, and technology solutions for consumers and small businesses.
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