Traders Sell Shares of Best Buy (BBY) on Strength (BBY)
Traders sold shares of Best Buy Co Inc (NYSE:BBY) on strength during trading hours on Thursday. $40.62 million flowed into the stock on the tick-up and $81.76 million flowed out of the stock on the tick-down, for a money net flow of $41.14 million out of the stock. Of all equities tracked, Best Buy had the 0th highest net out-flow for the day. Best Buy traded up $1.63 for the day and closed at $77.98
A number of research firms have recently commented on BBY. ValuEngine raised Best Buy from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research lowered Best Buy from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Co began coverage on Best Buy in a research report on Monday, April 23rd. They set a “market perform” rating and a $77.00 price target on the stock. Morgan Stanley reissued a “buy” rating on shares of Best Buy in a research report on Friday, June 8th. Finally, Loop Capital set a $85.00 target price on Best Buy and gave the company a “buy” rating in a research report on Thursday, May 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $73.88.
The stock has a market cap of $21.79 billion, a PE ratio of 16.56, a P/E/G ratio of 1.46 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.27 and a quick ratio of 0.56.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 5th. Shareholders of record on Thursday, June 14th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. Best Buy’s dividend payout ratio is 40.72%.
In other Best Buy news, SVP Mathew Watson sold 457 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $72.54, for a total value of $33,150.78. Following the completion of the transaction, the senior vice president now directly owns 20,241 shares in the company, valued at $1,468,282.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Asheesh Saksena sold 18,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $73.69, for a total value of $1,368,423.30. Following the completion of the transaction, the insider now owns 77,478 shares of the company’s stock, valued at $5,709,353.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,999 shares of company stock valued at $2,344,505. Corporate insiders own 0.75% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BBY. Bristol John W & Co. Inc. NY bought a new position in Best Buy in the first quarter valued at approximately $129,000. Private Capital Group LLC grew its stake in Best Buy by 850.7% in the first quarter. Private Capital Group LLC now owns 2,852 shares of the technology retailer’s stock valued at $201,000 after purchasing an additional 2,552 shares in the last quarter. Capital Investment Advisors LLC bought a new position in Best Buy in the second quarter valued at approximately $210,000. Trexquant Investment LP bought a new position in Best Buy in the first quarter valued at approximately $212,000. Finally, Courier Capital LLC bought a new position in Best Buy in the second quarter valued at approximately $217,000. Hedge funds and other institutional investors own 88.39% of the company’s stock.
Best Buy Company Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.
Featured Article: Earnings Per Share (EPS) Explained
Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.