Best Buy (NYSE:BBY) EVP Sells 6,336 Shares

Key Points

• Best Buy EVP Jason Bonfig sold 6,336 shares on March 23 at an average price of $64.02 for $405,630.72, reducing his stake by 7.41% to 79,137 shares (valued at about $5.07M).
• Best Buy raised its quarterly dividend to $0.96 (annualized $3.84), implying a 6.2% yield; the ex-dividend date was March 24 and the payment is scheduled for April 14.
• Q4 results showed an EPS beat with $2.61 vs. $2.48 expected and revenue of $13.81B (slightly below estimates), and the company set FY2027 guidance of $6.30–$6.60 EPS while analysts average about $6.18 for the year.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) EVP Jason Bonfig sold 6,336 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $405,630.72. Following the completion of the transaction, the executive vice president owned 79,137 shares in the company, valued at $5,066,350.74. The trade was a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Best Buy Price Performance

BBY opened at $61.72 on Wednesday. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $84.99. The company has a 50 day moving average of $65.31 and a two-hundred day moving average of $71.83. The company has a market cap of $12.91 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.58 and a beta of 1.46. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.13. The business had revenue of $13.81 billion for the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 6.2%. This is a boost from Best Buy's previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Tuesday, March 24th. Best Buy's dividend payout ratio is 75.40%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BBY. Morgan Stanley decreased their target price on Best Buy from $76.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 4th. Wall Street Zen downgraded Best Buy from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. BNP Paribas Exane boosted their price target on Best Buy from $68.00 to $74.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 4th. Weiss Ratings restated a "hold (c)" rating on shares of Best Buy in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group lowered their price objective on shares of Best Buy from $93.00 to $76.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $76.20.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Best Buy by 99.8% in the third 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 last quarter. Norges Bank purchased a new stake in Best Buy during the 4th quarter worth approximately $174,685,000. Schroder Investment Management Group increased its holdings 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 worth $207,216,000 after purchasing an additional 2,449,342 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Best Buy by 104.1% in 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 in the last quarter. Finally, KBC Group NV raised its position in shares of Best Buy by 293.6% in 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 in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

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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