Best Buy (NYSE:BBY) CFO Sells $727,011.12 in Stock

Key Points

• CFO Matthew Bilunas sold 11,356 shares on March 23 at an average price of $64.02 for a total of $727,011.12, trimming his stake by 12.87% to 76,884 shares valued at about $4.92 million.
• Best Buy raised its quarterly dividend to $0.96 (ex-dividend March 24, payable April 14), equal to a $3.84 annualized payout and roughly a 6.2% yield with a 75.4% payout ratio.
• Recent quarter and guidance: the company reported $2.61 EPS (beat consensus) on $13.81 billion revenue (down 1% YoY) and set FY2027 guidance of $6.30–$6.60 EPS versus analysts' ~6.18 estimate.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CFO Matthew Bilunas sold 11,356 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $727,011.12. Following the sale, the chief financial officer owned 76,884 shares of the company's stock, valued at approximately $4,922,113.68. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Best Buy Stock Performance

NYSE BBY opened at $61.72 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. The stock's 50 day simple moving average is $65.31 and its 200-day simple moving average is $71.83. The company has a market cap of $12.91 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.58 and a beta of 1.46. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $84.99.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, topping the consensus estimate of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm had revenue of $13.81 billion during the quarter, compared to analysts' expectations of $13.96 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from Best Buy's previous quarterly dividend of $0.95. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.2%. Best Buy's payout ratio is currently 75.40%.

Hedge Funds Weigh In On Best Buy

A number of hedge funds have recently modified their holdings of BBY. Harbor Capital Advisors Inc. raised its holdings in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer's stock valued at $25,000 after buying an additional 138 shares during the period. Torren Management LLC acquired a new position in Best Buy in the fourth quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in Best Buy during the fourth quarter worth about $25,000. Palisade Asset Management LLC purchased a new position in Best Buy during the third quarter worth about $25,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Best Buy during the fourth quarter valued at about $29,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BBY shares. The Goldman Sachs Group decreased their price target on shares of Best Buy from $93.00 to $76.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Jefferies Financial Group cut their price objective on shares of Best Buy from $94.00 to $89.00 and set a "buy" rating for the company in a report on Monday, February 9th. KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 4th. Loop Capital boosted their target price on Best Buy from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, November 25th. Finally, Piper Sandler restated a "buy" rating on shares of Best Buy in a research report on Wednesday, March 4th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $76.20.

About Best Buy

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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