Insider Selling: Best Buy Co., Inc. (NYSE:BBY) CAO Sells $214,390.15 in Stock

Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson sold 2,951 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $214,390.15. Following the sale, the chief accounting officer now owns 21,371 shares in the company, valued at $1,552,603.15. The trade was a 12.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mathew Watson also recently made the following trade(s):

• On Friday, March 14th, Mathew Watson sold 3,182 shares of Best Buy stock. The shares were sold at an average price of $71.29, for a total value of $226,844.78.

Best Buy Price Performance

Shares of NYSE BBY opened at $72.28 on Friday. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The stock has a market capitalization of $15.28 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.10 and a beta of 1.43. The company’s 50-day moving average is $82.51 and its 200 day moving average is $88.31. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

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, beating 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 business had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the firm posted $2.72 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 annualized dividend and a yield of 5.26%. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

Analyst Ratings Changes

BBY has been the subject of several research reports. Telsey Advisory Group cut their target price on Best Buy from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. KeyCorp reissued a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Guggenheim reduced their price objective on Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Bank of America lowered their target price on Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and an average price target of $93.50.

Institutional Trading of Best Buy

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