Best Buy (NYSE:BBY) Chairman Sells $38,086,642.00 in Stock

Key Points

• Best Buy Chairman Richard Schulze sold 500,350 shares on May 29 at an average price of $76.12, totaling about $38.1 million. After the sale, he still owned over 10.9 million shares valued at roughly $832 million.
• The company recently beat quarterly expectations, reporting EPS of $1.28 versus $1.23 expected and revenue of $8.94 billion versus $8.82 billion expected. Revenue rose 1.9% year over year, and Best Buy maintained FY 2027 guidance of 6.3 to 6.6 EPS.
• Best Buy continues to offer a sizable dividend, with a quarterly payout of $0.96 per share, equal to $3.84 annually and a yield of 5.3%. Analysts are mostly cautious overall, with a consensus rating of “Hold” and an average price target of $79.05.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) Chairman Richard Schulze sold 500,350 shares of the company's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the completion of the sale, the chairman owned 10,930,586 shares of the company's stock, valued at approximately $832,036,206.32. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Best Buy Stock Performance

BBY traded down $2.05 on Tuesday, hitting $72.93. 4,533,787 shares of the company traded hands, compared to its average volume of 4,577,129. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $84.99. The company has a 50 day moving average of $62.51 and a 200-day moving average of $66.78. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $15.37 billion, a PE ratio of 13.50, a PEG ratio of 2.09 and a beta of 1.30.

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

Best Buy Dividend Announcement

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

Trending Headlines about 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

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of recent research reports. Citigroup lifted their price target on Best Buy from $60.00 to $79.00 and gave the company a "neutral" rating in a report on Friday. Telsey Advisory Group set a $90.00 price target on Best Buy and gave the company an "outperform" rating in a report on Friday. Daiwa Securities Group lifted their price target on Best Buy from $68.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday. Piper Sandler reaffirmed a "neutral" rating and issued a $77.00 price objective on shares of Best Buy in a research note on Thursday, May 28th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 4th. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Best Buy currently has an average rating of "Hold" and an average target price of $79.05.

Institutional Trading of Best Buy

A number of hedge funds and other institutional investors have recently made changes to their positions in BBY. AQR Capital Management LLC boosted its stake in Best Buy by 99.8% during the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer's stock valued at $525,120,000 after purchasing an additional 3,496,254 shares during the period. Norges Bank acquired a new position in Best Buy during the 4th quarter valued at about $174,685,000. Schroder Investment Management Group boosted its stake in Best Buy by 378.8% during the 4th quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer's stock valued at $207,216,000 after purchasing an additional 2,449,342 shares during the period. Hsbc Holdings PLC boosted its stake in Best Buy by 104.1% during the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer's stock valued at $135,685,000 after purchasing an additional 1,030,544 shares during the period. Finally, KBC Group NV boosted its stake in Best Buy by 293.6% during the 4th quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer's stock valued at $70,464,000 after purchasing an additional 785,294 shares during the period. Institutional investors own 80.96% of the company's stock.

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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