Best Buy (NYSE:BBY) Stock: Insider Kathleen Scarlett Sells 116,062 Shares

Best Buy Co., Inc. (NYSE:BBY) EVP Kathleen Scarlett sold 116,062 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total value of $10,695,113.30. Following the completion of the transaction, the executive vice president directly owned 116,173 shares in the company, valued at approximately $10,705,341.95. This represents a 49.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Best Buy Price Performance

Shares of BBY stock traded up $0.27 during trading hours on Thursday, hitting $91.07. 3,354,126 shares of the company’s stock were exchanged, compared to its average volume of 4,249,246. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $96.53. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28. 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 stock’s 50-day moving average is $87.20 and its 200-day moving average is $74.56.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The business had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.59 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.82 EPS for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Thursday, September 17th. Best Buy’s dividend payout ratio is presently 63.89%.

Institutional Trading of Best Buy

A number of institutional investors have recently bought and sold shares of the business. MV Capital Management Inc. acquired a new position in shares of Best Buy in the 4th quarter valued at $25,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Best Buy during the fourth quarter worth $29,000. Bayban bought a new stake in Best Buy in the fourth quarter valued at about $33,000. Maseco LLP acquired a new position in Best Buy in the first quarter valued at about $37,000. Finally, Hantz Financial Services Inc. boosted its holdings in Best Buy by 491.7% during the fourth quarter. Hantz Financial Services Inc. now owns 568 shares of the technology retailer’s stock worth $38,000 after buying an additional 472 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BBY shares. KeyCorp restated a “sector weight” rating on shares of Best Buy in a research report on Monday, June 22nd. Bank of America initiated coverage on Best Buy in a research report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price objective on the stock. Piper Sandler boosted their target price on Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. 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. Finally, Citigroup raised their price target on Best Buy from $79.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Best Buy presently has a consensus rating of “Hold” and a consensus price target of $85.40.

Best Buy Company Profile

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.