Corie Barry Sells 42,869 Shares of Best Buy (NYSE:BBY) Stock

Key Points

• Corie Barry, Best Buy's CEO, sold 42,869 shares on March 23 at an average price of $64.02 for proceeds of about $2.74 million, trimming her stake by 7.57% to 523,138 shares valued at roughly $33.49 million.
• Best Buy raised its quarterly dividend to $0.96 (from $0.95), an annualized $3.84 representing a ~6.2% yield, with an ex‑dividend date of March 24 and payment on April 14.
• In the latest quarter Best Buy posted EPS of $2.61 (beating the $2.48 consensus) on $13.81 billion revenue (slightly below estimates), and analysts hold a consensus "Hold" rating with a $76.20 target while the company guides FY2027 EPS to $6.30–$6.60.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) CEO Corie Barry sold 42,869 shares of the business'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 value of $2,744,473.38. Following the completion of the transaction, the chief executive officer directly owned 523,138 shares in the company, valued at approximately $33,491,294.76. The trade was a 7.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Best Buy Price Performance

Best Buy stock opened at $61.72 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. The business has a 50 day simple moving average of $65.31 and a 200-day simple moving average of $71.83. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $84.99. The stock has a market capitalization of $12.91 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.58 and a beta of 1.46.

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

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.2%. This is a positive change from Best Buy's previous quarterly dividend of $0.95. The ex-dividend date is Tuesday, March 24th. Best Buy's dividend payout ratio (DPR) is presently 75.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BBY shares. Barclays lowered their price objective on Best Buy from $81.00 to $77.00 and set an "equal weight" rating on the stock in a report on Thursday, January 8th. Wells Fargo & Company cut their target price on Best Buy from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 18th. KeyCorp reissued a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 4th. JPMorgan Chase & Co. downgraded Best Buy from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $99.00 to $76.00 in a research note on Monday, February 2nd. Finally, Jefferies Financial Group cut their price objective on Best Buy from $94.00 to $89.00 and set a "buy" rating for the company in a research report on Monday, February 9th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $76.20.

Hedge Funds Weigh In On Best Buy

Hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its position in shares of Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer's stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. Torren Management LLC acquired a new position in shares of Best Buy during the 4th quarter worth approximately $25,000. MV Capital Management Inc. purchased a new stake in Best Buy in the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new stake in Best Buy in the 3rd quarter valued at approximately $25,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Best Buy during the 4th quarter valued at $29,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.