Best Buy (NYSE:BBY) Chairman Richard Schulze Sells 5,100 Shares

Best Buy Co., Inc. (NYSE:BBY) Chairman Richard Schulze sold 5,100 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $78.00, for a total transaction of $397,800.00. Following the transaction, the chairman directly owned 10,849,537 shares of the company’s stock, valued at $846,263,886. The trade was a 0.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Best Buy Trading Down 3.2%

Shares of BBY stock traded down $2.42 during trading hours on Wednesday, hitting $73.16. 3,873,635 shares of the company’s stock traded hands, compared to its average volume of 4,514,244. The stock’s 50 day simple moving average is $64.99 and its 200 day simple moving average is $66.65. The stock has a market cap of $15.42 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.06 and a beta of 1.30. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $84.99. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. The business had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.Best Buy’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th 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 5.2%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio (DPR) is 71.11%.

Institutional Trading of Best Buy

Hedge funds have recently modified their holdings of the stock. Huntington National Bank increased its stake in Best Buy by 12.0% in the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after purchasing an additional 139 shares in the last quarter. Krane Funds Advisors LLC increased its stake in Best Buy by 3.0% in the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after purchasing an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in Best Buy by 0.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock valued at $1,114,000 after purchasing an additional 152 shares in the last quarter. Applied Finance Capital Management LLC increased its position in Best Buy by 3.8% in the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock valued at $286,000 after buying an additional 157 shares in the last quarter. Finally, International Private Wealth Advisors LLC increased its position in Best Buy by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock valued at $224,000 after buying an additional 165 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the subject of several analyst reports. BNP Paribas Exane raised their price target on shares of Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Telsey Advisory Group set a $90.00 target price on shares of Best Buy and gave the stock an “outperform” rating in a research note on Friday, May 29th. UBS Group reissued a “neutral” rating and set a $86.00 target price (up from $85.00) on shares of Best Buy in a research note on Friday, May 29th. Guggenheim reissued a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Friday, May 29th. Finally, DA Davidson reissued a “buy” rating and issued a $78.00 price objective on shares of Best Buy in a research report on Friday, May 29th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and a consensus target price of $79.05.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.