Best Buy (NYSE:BBY) CAO Sells $275,170.05 in Stock

Key Points

• Best Buy Co., Inc. CFO Mathew Watson sold 3,715 shares of stock, totaling $275,170.05, reducing his ownership by 14.36%.
• The company's stock is currently trading at $74.82, a slight increase of 0.5% from the previous session.
• Best Buy recently reported quarterly earnings of $1.28 EPS, exceeding analysts' estimates of $1.22, with revenues reaching $9.44 billion.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CAO Mathew Watson sold 3,715 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the sale, the chief accounting officer directly owned 22,150 shares in the company, valued at $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Best Buy Stock Up 0.5%

Best Buy stock traded up $0.36 during mid-day trading on Wednesday, reaching $74.82. The stock had a trading volume of 3,344,057 shares, compared to its average volume of 3,465,060. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.95 and a beta of 1.19. The company has a 50-day moving average price of $70.21 and a two-hundred day moving average price of $71.15. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.32.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. The company had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. Best Buy's revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Thursday, September 18th. Best Buy's dividend payout ratio is 104.97%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BBY. Telsey Advisory Group reissued an "outperform" rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Wedbush increased their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, August 29th. UBS Group cut their price objective on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. Wells Fargo & Company increased their price objective on shares of Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Best Buy from $88.00 to $89.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $82.59.

Institutional Trading of Best Buy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Orion Porfolio Solutions LLC bought a new stake in shares of Best Buy in the second quarter valued at about $708,000. Thrivent Financial for Lutherans raised its holdings in Best Buy by 17.6% in the second quarter. Thrivent Financial for Lutherans now owns 1,540,944 shares of the technology retailer's stock worth $103,444,000 after purchasing an additional 230,984 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new position in Best Buy in the second quarter worth about $395,000. Hudson Bay Capital Management LP bought a new position in Best Buy in the second quarter worth about $244,000. Finally, Nomura Holdings Inc. raised its holdings in Best Buy by 414.3% in the second quarter. Nomura Holdings Inc. now owns 31,623 shares of the technology retailer's stock worth $2,123,000 after purchasing an additional 25,474 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

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.

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