Insider Selling: Best Buy (NYSE:BBY) EVP Sells $515,296.98 in Stock

Key Points

• EVP Kathleen Scarlett sold 8,049 shares at an average price of $64.02, totaling $515,296.98, reducing her stake by 7.27% to 102,669 shares (worth ~ $6.57M).
• Best Buy raised its quarterly dividend to $0.96 (from $0.95); the ex-dividend date is March 24 and the payout (April 14) implies a ~6.2% yield.
• The company beat quarterly EPS estimates ($2.61 vs. $2.48) despite revenue falling 1% year-over-year and set FY2027 guidance of 6.30–6.60 EPS, while shares were trading down roughly 3.6% (opened at $61.72).

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) EVP Kathleen Scarlett sold 8,049 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $515,296.98. Following the transaction, the executive vice president owned 102,669 shares of the company's stock, valued at approximately $6,572,869.38. The trade was a 7.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Best Buy Trading Down 3.6%

Shares of BBY opened at $61.72 on Wednesday. The stock has a market capitalization of $12.91 billion, a PE ratio of 12.25, a P/E/G ratio of 1.58 and a beta of 1.46. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $84.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. The company's fifty day moving average is $65.31 and its 200 day moving average is $71.83.

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

Best Buy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler restated a "buy" rating on shares of Best Buy in a report on Wednesday, March 4th. Wells Fargo & Company decreased their price objective on Best Buy from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Wednesday, February 18th. Evercore reiterated a "buy" rating and issued a $75.00 target price on shares of Best Buy in a research note on Wednesday, March 4th. HSBC lowered their price target on Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Finally, UBS Group increased their price target on shares of Best Buy from $93.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, November 26th. 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $76.20.

Institutional Trading of Best Buy

Institutional investors have recently bought and sold shares of the business. Palisade Asset Management LLC acquired a new stake in Best Buy in the 3rd quarter valued at $25,000. Harbor Capital Advisors Inc. raised its holdings in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer's stock valued at $25,000 after acquiring an additional 138 shares during the last quarter. MV Capital Management Inc. purchased a new position in Best Buy during the fourth quarter worth approximately $25,000. Torren Management LLC acquired a new position in shares of Best Buy during the 4th quarter valued at about $25,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Best Buy in the 3rd quarter valued at approximately $32,000. 80.96% of the stock is owned by institutional investors and hedge funds.

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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