Best Buy Co Inc (NYSE:BBY) was the target of unusually large options trading activity on Wednesday. Traders acquired 993 call options on the stock. This is an increase of approximately 163% compared to the typical volume of 378 call options.
Best Buy Co (NYSE BBY) opened at $56.92 on Friday. Best Buy Co has a twelve month low of $37.10 and a twelve month high of $63.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.42 and a quick ratio of 0.69. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.15 and a beta of 1.42.
Best Buy Co (NYSE:BBY) last issued its earnings results on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. Best Buy Co had a return on equity of 27.41% and a net margin of 3.00%. The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the business earned $0.57 EPS. Best Buy Co’s quarterly revenue was up 4.8% compared to the same quarter last year. analysts predict that Best Buy Co will post 4.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Monday, September 18th. Best Buy Co’s dividend payout ratio (DPR) is presently 36.07%.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Best Buy Co from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Loop Capital set a $72.00 price objective on Best Buy Co and gave the company a “buy” rating in a research note on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Best Buy Co in a research note on Thursday, September 21st. UBS Group AG (USA) reaffirmed a “buy” rating and issued a $57.00 price objective (down previously from $60.00) on shares of Best Buy Co in a research note on Wednesday, September 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Best Buy Co in a research note on Wednesday, September 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $58.97.
In other news, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $59.92, for a total value of $47,157.04. Following the completion of the transaction, the chief financial officer now owns 54,159 shares of the company’s stock, valued at $3,245,207.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hubert Joly sold 106,942 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $5,847,588.56. Following the completion of the transaction, the chief executive officer now directly owns 645,222 shares of the company’s stock, valued at approximately $35,280,738.96. The disclosure for this sale can be found here. Insiders have sold 166,259 shares of company stock valued at $9,182,693 in the last ninety days. 1.21% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in Best Buy Co by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,828,752 shares of the technology retailer’s stock valued at $276,833,000 after acquiring an additional 154,426 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Best Buy Co by 762.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock valued at $202,312,000 after acquiring an additional 3,119,700 shares in the last quarter. APG Asset Management N.V. lifted its stake in Best Buy Co by 27.6% during the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock valued at $190,263,000 after acquiring an additional 723,500 shares in the last quarter. LSV Asset Management lifted its stake in Best Buy Co by 3.5% during the 2nd quarter. LSV Asset Management now owns 2,015,293 shares of the technology retailer’s stock valued at $115,536,000 after acquiring an additional 69,000 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Best Buy Co by 6.0% during the 2nd quarter. Legal & General Group Plc now owns 1,521,054 shares of the technology retailer’s stock valued at $87,209,000 after acquiring an additional 86,638 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.
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Best Buy Co Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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