Rep. Robert Bresnahan, Jr. Sells Off Shares of Best Buy Co., Inc. (NYSE:BBY)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Best Buy Co., Inc. NYSE: BBY. In a filing disclosed on April 28th, the Representative disclosed that they had sold between $1,001 and $15,000 in Best Buy stock on April 8th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Occidental Petroleum NYSE: OXY on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Pfizer NYSE: PFE on 4/8/2025.
• Sold $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of EOG Resources NYSE: EOG on 4/8/2025.
• Sold $1,001 - $15,000 in shares of CSX NASDAQ: CSX on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Valero Energy NYSE: VLO on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Accenture NYSE: ACN on 4/8/2025.

Best Buy Stock Down 0.5 %

Best Buy stock traded down $0.32 during midday trading on Monday, reaching $67.75. The stock had a trading volume of 2,103,666 shares, compared to its average volume of 3,321,108. The company has a fifty day moving average price of $69.65 and a two-hundred day moving average price of $81.53. The company has a market capitalization of $14.32 billion, a P/E ratio of 11.58, a PEG ratio of 2.10 and a beta of 1.27. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the previous year, the company posted $2.72 earnings per share. As a group, equities analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were paid a $0.95 dividend. The ex-dividend date was Tuesday, March 25th. This is an increase from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.61%. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

Insider Activity at Best Buy

In other news, CFO Matthew M. Bilunas sold 51,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the transaction, the chief financial officer now owns 55,856 shares of the company's stock, valued at approximately $4,144,515.20. This represents a 47.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 4,893 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $355,476.45. Following the completion of the sale, the insider now owns 32,320 shares in the company, valued at $2,348,048. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,355 shares of company stock worth $5,767,213. 0.59% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BBY shares. Wells Fargo & Company reduced their price objective on shares of Best Buy from $89.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Loop Capital reissued a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. Piper Sandler cut their target price on Best Buy from $102.00 to $92.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their price objective on Best Buy from $106.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $91.28.

Institutional Investors Weigh In On Best Buy

Several institutional investors have recently added to or reduced their stakes in BBY. Pinnacle Bancorp Inc. raised its position in shares of Best Buy by 108.5% in the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after purchasing an additional 178 shares during the period. Rakuten Securities Inc. raised its holdings in Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after acquiring an additional 311 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Best Buy during the fourth quarter worth $31,000. Golden State Wealth Management LLC bought a new position in shares of Best Buy in the fourth quarter worth $32,000. Finally, Atlas Capital Advisors Inc. grew its position in shares of Best Buy by 186.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.