Investors Sell Best Buy (BBY) on Strength (BBY)

Investors sold shares of Best Buy Co Inc (NYSE:BBY) on strength during trading hours on Monday. $31.84 million flowed into the stock on the tick-up and $76.85 million flowed out of the stock on the tick-down, for a money net flow of $45.01 million out of the stock. Of all equities tracked, Best Buy had the 0th highest net out-flow for the day. Best Buy traded up $0.82 for the day and closed at $69.69

Several equities research analysts have recently weighed in on BBY shares. Wedbush set a $32.00 target price on shares of Best Buy and gave the company a “sell” rating in a research note on Wednesday, November 29th. KeyCorp reissued a “hold” rating on shares of Best Buy in a research note on Friday, November 10th. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, October 10th. Deutsche Bank set a $56.00 target price on shares of Best Buy and gave the company a “hold” rating in a research note on Friday, November 17th. Finally, Jefferies Group reissued a “buy” rating and issued a $60.00 target price on shares of Best Buy in a research note on Wednesday, September 20th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Best Buy presently has an average rating of “Hold” and an average target price of $59.14.

The stock has a market cap of $20,370.00, a P/E ratio of 17.64, a P/E/G ratio of 1.46 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The company 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 firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. sell-side analysts expect that Best Buy Co Inc will post 4 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 7th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, December 6th. Best Buy’s dividend payout ratio is presently 34.43%.

In related news, insider Shari L. Ballard sold 40,018 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total value of $2,248,211.24. Following the transaction, the insider now owns 99,304 shares of the company’s stock, valued at approximately $5,578,898.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Richard M. Schulze sold 250,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.83, for a total transaction of $16,707,500.00. Following the completion of the transaction, the insider now directly owns 1,732,500 shares in the company, valued at approximately $115,782,975. The disclosure for this sale can be found here. Insiders sold a total of 3,134,253 shares of company stock worth $191,063,125 in the last ninety days. 0.84% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Prudential Financial Inc. grew its holdings in Best Buy by 19.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,053,380 shares of the technology retailer’s stock worth $60,001,000 after acquiring an additional 173,903 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Best Buy by 2.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,396,332 shares of the technology retailer’s stock worth $79,535,000 after acquiring an additional 30,414 shares in the last quarter. TrimTabs Asset Management LLC grew its holdings in Best Buy by 17.1% during the 3rd quarter. TrimTabs Asset Management LLC now owns 6,767 shares of the technology retailer’s stock worth $385,000 after acquiring an additional 990 shares in the last quarter. Gyroscope Capital Management Group LLC grew its holdings in Best Buy by 4.5% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 103,033 shares of the technology retailer’s stock worth $5,869,000 after acquiring an additional 4,469 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in Best Buy during the 3rd quarter worth about $482,000. Institutional investors own 88.45% of the company’s stock.

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Best Buy 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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