Best Buy Co., Inc. (NYSE:BBY) CFO Matthew M. Bilunas Sells 51,000 Shares

Best Buy Co., Inc. (NYSE:BBY) CFO Matthew M. Bilunas sold 51,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $74.20, for a total value of $3,784,200.00. Following the sale, the chief financial officer now owns 55,856 shares of the company’s stock, valued at approximately $4,144,515.20. This represents a 47.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Best Buy Trading Up 0.2 %

BBY opened at $74.78 on Thursday. The stock has a market cap of $15.81 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The company has a fifty day moving average of $82.84 and a 200-day moving average of $88.58.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $13.95 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the company posted $2.72 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, March 25th. This represents a $3.80 annualized dividend and a dividend yield of 5.08%. Best Buy’s dividend payout ratio (DPR) is 88.99%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BBY. Truist Financial dropped their target price on shares of Best Buy from $95.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Wedbush reissued a “neutral” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Monday, March 3rd. Bank of America decreased their target price on shares of Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their price target on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Finally, UBS Group set a $105.00 price objective on Best Buy in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and an average target price of $93.50.

Institutional Trading of Best Buy

Hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. grew its holdings in Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 311 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in shares of Best Buy in the 4th quarter valued at about $31,000. Golden State Wealth Management LLC bought a new stake in Best Buy in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. raised its stake in Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after buying an additional 243 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in Best Buy by 18,700.0% in the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 374 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

About Best Buy

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.