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

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 Performance

NYSE BBY traded up $1.01 during trading on Friday, reaching $68.05. 3,315,467 shares of the company's stock were exchanged, compared to its average volume of 3,320,924. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock has a market capitalization of $14.38 billion, a P/E ratio of 11.63, a PEG ratio of 2.10 and a beta of 1.42. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The business has a 50 day moving average price of $70.55 and a 200-day moving average price of $82.15.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter in the prior year, the business earned $2.72 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were paid a $0.95 dividend. The ex-dividend date was Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.58%. This is a boost from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

Institutional Investors Weigh In On Best Buy

Several institutional investors have recently bought and sold shares of BBY. World Investment Advisors LLC purchased a new stake in shares of Best Buy during the third quarter valued at approximately $5,234,000. Wilmington Savings Fund Society FSB bought a new position in shares of Best Buy in the third quarter worth $247,000. Tidal Investments LLC grew its holdings in Best Buy by 24.5% during the 3rd quarter. Tidal Investments LLC now owns 22,210 shares of the technology retailer's stock valued at $2,294,000 after buying an additional 4,370 shares in the last quarter. Franklin Resources Inc. increased its holdings in Best Buy by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer's stock worth $73,016,000 after acquiring an additional 201,562 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of Best Buy by 0.7% in the third quarter. Retirement Systems of Alabama now owns 42,782 shares of the technology retailer's stock worth $4,419,000 after purchasing an additional 306 shares during the period. Institutional investors own 80.96% of the company's stock.

Insiders Place Their Bets

In other news, insider Todd G. Hartman sold 4,893 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $355,476.45. Following the sale, the insider now owns 32,320 shares in the company, valued at approximately $2,348,048. This trade represents a 13.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mathew Watson sold 3,182 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78. Following the completion of the transaction, the chief accounting officer now owns 19,218 shares of the company's stock, valued at $1,370,051.22. This trade represents a 14.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,355 shares of company stock worth $5,767,213 in the last ninety days. 0.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

BBY has been the subject of a number of recent analyst reports. KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. DA Davidson reiterated a "buy" rating and set a $110.00 price target on shares of Best Buy in a report on Monday, April 14th. UBS Group set a $105.00 price objective 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 report on Wednesday, March 5th. Finally, Morgan Stanley decreased their price objective on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Best Buy currently has an average rating of "Hold" and a consensus target price of $91.28.

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.

About Best Buy

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.