Insider Selling: Best Buy Co., Inc. (NYSE:BBY) CEO Sells 366 Shares of Stock

Best Buy Co., Inc. (NYSE:BBY) CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the sale, the chief executive officer now owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Best Buy Price Performance

NYSE BBY traded up $0.15 during trading hours on Friday, reaching $76.15. The company’s stock had a trading volume of 1,367,680 shares, compared to its average volume of 3,008,099. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $86.11. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.99 and a beta of 1.49. The firm’s 50-day moving average price is $77.95 and its 200-day moving average price is $73.85.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The firm had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $14.58 billion. During the same quarter last year, the business posted $2.61 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.03 EPS for the current fiscal year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were paid a $0.94 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $3.76 annualized dividend and a yield of 4.94%. This is a boost from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio is 66.08%.

Analyst Ratings Changes

Several analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Telsey Advisory Group raised shares of Best Buy from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $85.00 to $95.00 in a report on Wednesday, March 20th. Jefferies Financial Group decreased their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. UBS Group lifted their price target on shares of Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Morgan Stanley upped their price objective on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and a consensus target price of $84.60.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BBY. Cerity Partners LLC increased its stake in shares of Best Buy by 8.4% during the fourth quarter. Cerity Partners LLC now owns 103,459 shares of the technology retailer’s stock valued at $8,100,000 after buying an additional 8,042 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in Best Buy during the 4th quarter valued at about $317,000. Mirabella Financial Services LLP bought a new stake in shares of Best Buy in the 3rd quarter valued at about $831,000. Van ECK Associates Corp lifted its position in shares of Best Buy by 35.6% in the 3rd quarter. Van ECK Associates Corp now owns 94,282 shares of the technology retailer’s stock worth $6,550,000 after purchasing an additional 24,763 shares during the period. Finally, Dai ichi Life Insurance Company Ltd boosted its stake in shares of Best Buy by 1,405.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 214,232 shares of the technology retailer’s stock valued at $14,883,000 after purchasing an additional 200,000 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.