Best Buy Co Inc (NYSE:BBY) SVP Mathew Watson sold 380 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $68.79, for a total transaction of $26,140.20. Following the completion of the transaction, the senior vice president now directly owns 20,206 shares in the company, valued at approximately $1,389,970.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mathew Watson also recently made the following trade(s):

  • On Thursday, February 28th, Mathew Watson sold 1,000 shares of Best Buy stock. The shares were sold at an average price of $69.99, for a total transaction of $69,990.00.

Shares of NYSE:BBY traded up $0.50 during mid-day trading on Thursday, reaching $68.85. The stock had a trading volume of 4,237,382 shares, compared to its average volume of 3,583,367. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 0.46. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.11 and a beta of 0.94. Best Buy Co Inc has a twelve month low of $47.72 and a twelve month high of $84.37.

Best Buy (NYSE:BBY) last announced its earnings results on Wednesday, February 27th. The technology retailer reported $2.72 EPS for the quarter, topping the consensus estimate of $2.57 by $0.15. The firm had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $14.69 billion. Best Buy had a net margin of 3.41% and a return on equity of 46.33%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the company posted $2.42 EPS. Equities research analysts expect that Best Buy Co Inc will post 5.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 20th will be issued a dividend of $0.50 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.90%. The ex-dividend date is Tuesday, March 19th. Best Buy’s dividend payout ratio (DPR) is 33.83%.

Best Buy announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 27th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the technology retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Several research analysts have recently issued reports on BBY shares. Bank of America lowered shares of Best Buy from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $70.00 to $50.00 in a research note on Monday, December 17th. Zacks Investment Research lowered shares of Best Buy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Deutsche Bank reaffirmed a “buy” rating on shares of Best Buy in a research note on Friday, January 11th. Wells Fargo & Co raised shares of Best Buy to a “buy” rating in a research note on Thursday, February 28th. Finally, Moffett Nathanson upgraded shares of Best Buy from a “sell” rating to a “neutral” rating in a research report on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $76.33.

A number of hedge funds have recently made changes to their positions in BBY. Oregon Public Employees Retirement Fund raised its holdings in Best Buy by 3,134.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,280,289 shares of the technology retailer’s stock worth $62,000 after buying an additional 3,178,881 shares during the period. Norges Bank bought a new position in shares of Best Buy during the 4th quarter worth approximately $145,454,000. FMR LLC grew its stake in shares of Best Buy by 3.6% during the 4th quarter. FMR LLC now owns 23,545,963 shares of the technology retailer’s stock worth $1,246,994,000 after acquiring an additional 816,394 shares in the last quarter. PGGM Investments bought a new position in shares of Best Buy during the 4th quarter worth approximately $40,447,000. Finally, Man Group plc grew its stake in shares of Best Buy by 48.7% during the 3rd quarter. Man Group plc now owns 2,260,078 shares of the technology retailer’s stock worth $179,360,000 after acquiring an additional 739,733 shares in the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.

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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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Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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