Best Buy (NYSE:BBY) CAO Mathew Watson Sells 1,784 Shares

Key Points

• Best Buy CAO Mathew Watson sold 1,784 shares on May 29 at an average price of $73.80, for proceeds of about $131,659. After the sale, he still held 21,630 shares valued at roughly $1.6 million.
• Best Buy reported stronger-than-expected quarterly results, posting EPS of $1.28 versus the $1.23 consensus and revenue of $8.94 billion versus estimates of $8.82 billion. Revenue rose 1.9% year over year.
• The company also reaffirmed investor-friendly returns with a quarterly dividend of $0.96 per share, equal to a 5.3% annualized yield. Analysts currently have a consensus Hold rating on BBY, with an average price target of $79.05.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CAO Mathew Watson sold 1,784 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of the sale, the chief accounting officer owned 21,630 shares of the company's stock, valued at approximately $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 23rd, Mathew Watson sold 3,298 shares of Best Buy stock. The shares were sold at an average price of $64.02, for a total value of $211,137.96.

Best Buy Stock Down 2.7%

Shares of NYSE BBY traded down $2.05 during midday trading on Tuesday, hitting $72.93. 4,533,787 shares of the stock traded hands, compared to its average volume of 4,577,129. The company has a market cap of $15.37 billion, a PE ratio of 13.50, a P/E/G ratio of 2.09 and a beta of 1.30. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99. The business has a 50 day moving average price of $62.51 and a two-hundred day moving average price of $66.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The company's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities analysts predict that Best Buy Co., Inc. will post 6.5 EPS for the current year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.96 per share. The ex-dividend date is Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 5.3%. Best Buy's payout ratio is currently 71.11%.

Institutional Trading of Best Buy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank boosted its stake in Best Buy by 12.0% in the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer's stock worth $98,000 after purchasing an additional 139 shares during the period. Krane Funds Advisors LLC boosted its stake in Best Buy by 3.0% in the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer's stock worth $346,000 after purchasing an additional 151 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in Best Buy by 0.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer's stock worth $1,114,000 after purchasing an additional 152 shares during the period. Applied Finance Capital Management LLC boosted its stake 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 worth $286,000 after purchasing an additional 157 shares during the period. Finally, International Private Wealth Advisors LLC boosted its stake 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 worth $224,000 after purchasing an additional 165 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Key Stories Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy’s latest earnings call highlighted growth in Marketplace and Best Buy Ads, along with new tech launches, reinforcing the company’s efforts to expand beyond traditional retail and improve profitability. Best Buy Q1 Earnings Call Highlights Marketplace Growth, CEO Shift
• Positive Sentiment: The company’s Q1 results beat expectations on both revenue and earnings, which supports the view that demand and execution are holding up better than expected. Should You Buy Best Buy Stock for Its 4.9%-Yielding Dividend?
• Positive Sentiment: Commentary from Jim Cramer was bullish, calling attention to Best Buy’s strong performance and suggesting investors may be overlooking the stock’s momentum. Jim Cramer Highlights the Strong Performance of Best Buy
• Positive Sentiment: Best Buy’s AI laptop sales boost and optimism around a potential turnaround are helping sentiment around the stock’s growth prospects. Best Buy's AI laptop boost sparks hope for a BBY turnaround
• Neutral Sentiment: Daiwa Securities raised its price target on Best Buy to $77 from $68, but kept a neutral rating, signaling improved valuation views without a clear bullish shift. Daiwa Securities Adjusts Price Target on Best Buy to 77 from 68, Maintains Neutral Rating
• Neutral Sentiment: Several articles framed Best Buy as a closely watched retail name with valuation and dividend appeal, but these pieces were mostly discussion-oriented and not major new catalysts. Why Best Buy Remains A Closely Watched Retail Name
• Negative Sentiment: Some market commentary still warns that Wall Street expectations for certain retail stocks remain cautious, which can temper enthusiasm if consumer spending softens. 3 Unpopular Stocks We Approach with Caution
• Negative Sentiment: One recent note also pointed to a sharp pullback in BBY shares earlier in the period, reminding investors that the stock can remain volatile despite improving fundamentals. Best Buy Co Inc (BBY) Stock Down 3.8% -- Now Undervalued? GF Score: 72/100

Analyst Ratings Changes

Several analysts have recently commented on BBY shares. Wells Fargo & Company increased their target price on shares of Best Buy from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, May 28th. Loop Capital boosted their price objective on Best Buy from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday. HSBC cut their price objective on Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Jefferies Financial Group upped their price target on Best Buy from $83.00 to $89.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, Telsey Advisory Group set a $90.00 price target on Best Buy and gave the company an "outperform" rating in a research report on Friday. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.

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