Best Buy Co Inc (NYSE:BBY) announced a quarterly dividend on Wednesday, August 29th, RTT News reports. Stockholders of record on Tuesday, September 18th will be given a dividend of 0.45 per share by the technology retailer on Tuesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, September 17th.

Best Buy has raised its dividend by an average of 23.6% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Best Buy has a dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Best Buy to earn $5.56 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 32.4%.

NYSE BBY opened at $78.39 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.21 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $21.48 billion, a PE ratio of 15.87, a P/E/G ratio of 1.24 and a beta of 0.98. Best Buy has a 52-week low of $51.61 and a 52-week high of $84.37.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, August 28th. The technology retailer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $9.38 billion during the quarter, compared to analyst estimates of $9.25 billion. Best Buy had a net margin of 2.44% and a return on equity of 40.28%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. sell-side analysts predict that Best Buy will post 5.11 EPS for the current fiscal year.

A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Jefferies Financial Group assumed coverage on shares of Best Buy in a research report on Tuesday, August 21st. They issued a “hold” rating and a $79.00 price target for the company. Wedbush set a $65.00 price target on shares of Best Buy and gave the stock a “sell” rating in a research report on Thursday, August 23rd. ValuEngine raised shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Finally, Bank of America reissued a “buy” rating and issued a $92.00 price target on shares of Best Buy in a research report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $79.35.

In related news, General Counsel Keith J. Nelsen sold 33,473 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $80.38, for a total transaction of $2,690,559.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Asheesh Saksena sold 26,309 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $80.07, for a total transaction of $2,106,561.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,913 shares of company stock worth $5,351,384. Insiders own 0.75% 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.

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Dividend History for Best Buy (NYSE:BBY)

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