Best Buy (NYSE:BBY) Chairman Sells $14,511,400.00 in Stock

Key Points

• Best Buy Chairman Richard Schulze sold $14,511,400 worth of stock on September 3rd, with 196,100 shares sold at an average price of $74.00.
• The company recently declared a quarterly dividend of $0.95, with a dividend yield of 5.1% and a payout ratio of 104.97%.
• Best Buy's latest earnings report showed an EPS of $1.28, exceeding expectations, and a revenue of $9.44 billion, up 1.6% year-over-year.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) Chairman Richard Schulze sold 196,100 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Best Buy Stock Up 0.5%

NYSE:BBY traded up $0.36 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 stock has a market cap of $15.81 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.95 and a beta of 1.19. The company has a 50-day moving average of $70.21 and a 200 day moving average of $71.15. The company has a current ratio of 1.04, a quick ratio of 0.32 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.48.

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

Best Buy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group dropped their price target on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Evercore ISI increased their price objective on shares of Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday, August 29th. Truist Financial increased their price objective on shares of Best Buy from $69.00 to $72.00 and gave the company a "hold" rating in a report on Friday, August 29th. Bank of America decreased their price objective on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a report on Friday, August 29th. Finally, Loop Capital decreased their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, May 30th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $82.59.

Institutional Investors Weigh In On Best Buy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBY. Pinnacle Bancorp Inc. raised its holdings in Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after acquiring an additional 178 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in Best Buy in the 2nd quarter worth $26,000. Vermillion Wealth Management Inc. bought a new position in Best Buy in the 4th quarter worth $31,000. Ancora Advisors LLC raised its holdings in 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 acquiring an additional 374 shares during the period. Finally, Grove Bank & Trust grew its position in Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock worth $32,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.