Patricia H. Walker Sells 8,854 Shares of Best Buy (BBY) Stock

Best Buy (NYSE:BBY) insider Patricia H. Walker sold 8,854 shares of the business’s stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $73.63, for a total transaction of $651,920.02. Following the transaction, the insider now directly owns 26,698 shares in the company, valued at $1,965,773.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of BBY stock traded up $1.21 during mid-day trading on Wednesday, reaching $74.38. 2,565,222 shares of the company’s stock traded hands, compared to its average volume of 3,576,247. Best Buy has a 12 month low of $50.29 and a 12 month high of $78.59. The stock has a market cap of $21,486.00, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22.

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Best Buy (NYSE:BBY) last announced its earnings results on Thursday, March 1st. The technology retailer reported $2.42 EPS for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.37. The firm had revenue of $15.36 billion for the quarter, compared to analysts’ expectations of $14.52 billion. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. sell-side analysts forecast that Best Buy will post 4.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 12th. Investors of record on Thursday, March 22nd were paid a $0.45 dividend. This is a boost from Best Buy’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, March 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. Best Buy’s payout ratio is presently 40.72%.

BBY has been the topic of a number of research analyst reports. Wedbush set a $38.00 price objective on shares of Best Buy and gave the company a “sell” rating in a research report on Monday, January 8th. Loop Capital set a $80.00 price objective on shares of Best Buy and gave the company a “buy” rating in a research report on Tuesday, January 16th. Jefferies Group reissued a “buy” rating and set a $74.00 price objective (up from $60.00) on shares of Best Buy in a research report on Tuesday, February 27th. Credit Suisse Group reissued a “hold” rating and set a $74.00 price objective (up from $60.00) on shares of Best Buy in a research report on Monday, March 5th. Finally, Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective on the stock in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.22.

A number of institutional investors have recently made changes to their positions in BBY. SWS Partners bought a new position in Best Buy in the 4th quarter worth about $110,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Best Buy by 232.8% in the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock worth $139,000 after purchasing an additional 1,420 shares in the last quarter. Squar Milner Financial Services LLC bought a new position in Best Buy in the 4th quarter worth about $201,000. Harbour Capital Advisors LLC bought a new position in Best Buy in the 4th quarter worth about $205,000. Finally, First Commonwealth Financial Corp PA bought a new position in Best Buy in the 4th quarter worth about $212,000. Institutional investors own 85.03% of the company’s stock.

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About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

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

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