Best Buy Co., Inc. (NYSE:BBY) major shareholder Richard M. Schulze sold 65,000 shares of Best Buy stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $61.08, for a total transaction of $3,970,200.00. Following the completion of the sale, the insider now owns 1,732,500 shares of the company’s stock, valued at $105,821,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Best Buy Co., Inc. (NYSE:BBY) traded down $0.57 during mid-day trading on Wednesday, hitting $61.98. 3,552,100 shares of the stock traded hands, compared to its average volume of 4,474,941. Best Buy Co., Inc. has a 1 year low of $41.67 and a 1 year high of $63.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The stock has a market capitalization of $18,285.02, a P/E ratio of 15.56, a PEG ratio of 1.30 and a beta of 1.40.
Best Buy (NYSE:BBY) last released its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. equities analysts expect that Best Buy Co., Inc. will post 4.03 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its position in Best Buy by 6.4% during the second quarter. Janney Montgomery Scott LLC now owns 18,275 shares of the technology retailer’s stock valued at $1,048,000 after acquiring an additional 1,102 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Best Buy by 8.2% during the second quarter. Candriam Luxembourg S.C.A. now owns 29,598 shares of the technology retailer’s stock valued at $1,697,000 after acquiring an additional 2,255 shares during the last quarter. Retirement Systems of Alabama increased its position in Best Buy by 70.7% during the second quarter. Retirement Systems of Alabama now owns 223,447 shares of the technology retailer’s stock valued at $12,810,000 after acquiring an additional 92,542 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Best Buy during the second quarter valued at $228,000. Finally, Advisor Partners LLC increased its position in Best Buy by 9.9% during the second quarter. Advisor Partners LLC now owns 7,518 shares of the technology retailer’s stock valued at $431,000 after acquiring an additional 678 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the stock. Loop Capital restated a “buy” rating and set a $72.00 target price on shares of Best Buy in a research report on Wednesday, August 16th. Royal Bank Of Canada boosted their target price on shares of Best Buy from $60.00 to $61.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 30th. Oppenheimer restated a “hold” rating on shares of Best Buy in a research report on Tuesday, August 29th. Deutsche Bank restated a “buy” rating and set a $58.00 target price (down from $60.00) on shares of Best Buy in a research report on Thursday, August 31st. Finally, Moffett Nathanson assumed coverage on shares of Best Buy in a research report on Monday. They set a “sell” rating for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.81.
About Best Buy
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.
What are top analysts saying about Best Buy Co. Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Best Buy Co. Inc. and related companies.