Rajendra M. Mohan Sells 19,951 Shares of Best Buy Co., Inc. (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) COO Rajendra M. Mohan sold 19,951 shares of the company’s stock in a transaction on Friday, June 4th. The shares were sold at an average price of $115.73, for a total transaction of $2,308,929.23. Following the completion of the transaction, the chief operating officer now owns 99,088 shares in the company, valued at $11,467,454.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rajendra M. Mohan also recently made the following trade(s):

  • On Tuesday, April 13th, Rajendra M. Mohan sold 51 shares of Best Buy stock. The shares were sold at an average price of $121.74, for a total transaction of $6,208.74.
  • On Tuesday, March 16th, Rajendra M. Mohan sold 4,261 shares of Best Buy stock. The shares were sold at an average price of $113.88, for a total transaction of $485,242.68.

Shares of NYSE BBY opened at $112.54 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 1.17. The firm has a market capitalization of $28.19 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.53. Best Buy Co., Inc. has a 12 month low of $75.23 and a 12 month high of $128.57. The business’s 50-day simple moving average is $118.02.

Best Buy (NYSE:BBY) last issued its earnings results on Wednesday, May 26th. The technology retailer reported $2.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.84. The firm had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $10.43 billion. Best Buy had a return on equity of 59.67% and a net margin of 4.44%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 8.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 8th. Shareholders of record on Thursday, June 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.49%. The ex-dividend date is Wednesday, June 16th. Best Buy’s payout ratio is 35.40%.

Hedge funds and other institutional investors have recently modified their holdings of the business. KB Financial Partners LLC acquired a new position in shares of Best Buy in the first quarter valued at approximately $68,000. HNP Capital LLC increased its stake in shares of Best Buy by 9.7% in the first quarter. HNP Capital LLC now owns 11,863 shares of the technology retailer’s stock valued at $1,362,000 after buying an additional 1,048 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Best Buy by 7.5% in the first quarter. Rehmann Capital Advisory Group now owns 10,762 shares of the technology retailer’s stock valued at $1,236,000 after buying an additional 748 shares during the period. Aspire Private Capital LLC increased its stake in shares of Best Buy by 126.9% in the first quarter. Aspire Private Capital LLC now owns 3,117 shares of the technology retailer’s stock valued at $358,000 after buying an additional 1,743 shares during the period. Finally, Pendal Group Limited increased its stake in shares of Best Buy by 16.7% in the first quarter. Pendal Group Limited now owns 66,085 shares of the technology retailer’s stock valued at $7,587,000 after buying an additional 9,458 shares during the period. 77.39% of the stock is owned by hedge funds and other institutional investors.

BBY has been the topic of several research reports. Barclays upped their price objective on shares of Best Buy from $121.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, May 28th. Piper Sandler boosted their target price on shares of Best Buy from $140.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday, May 28th. Bank of America reissued a “buy” rating on shares of Best Buy in a research report on Tuesday, February 16th. Morgan Stanley boosted their target price on shares of Best Buy from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 1st. Finally, Zacks Investment Research raised shares of Best Buy from a “sell” rating to a “hold” rating and set a $125.00 target price for the company in a research report on Wednesday, April 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Best Buy currently has an average rating of “Buy” and a consensus target price of $120.79.

Best Buy Company Profile

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phones, such as computing covering desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions, networking products, tablets covering e-readers, and wearables, such as smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products.

Further Reading: Limitations of analyzing profit margin

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

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