Richard Schulze Sells 325,836 Shares of Best Buy (NYSE:BBY) Stock

Key Points

• Richard Schulze, Chairman of Best Buy, recently sold 325,836 shares of the company's stock for approximately $26.83 million, resulting in a 2.61% decrease in his ownership stake.
• Best Buy reported earnings per share (EPS) of $1.28 for the latest quarter, exceeding analysts' expectations, and has set its FY 2026 guidance between 6.150-6.300 EPS.
• The company announced a quarterly dividend of $0.95, reflecting an annualized dividend yield of 4.7%, although the dividend payout ratio is notably high at 104.97%.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) Chairman Richard Schulze sold 325,836 shares of the firm's stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $82.35, for a total transaction of $26,832,594.60. Following the sale, the chairman owned 12,161,068 shares in the company, valued at $1,001,463,949.80. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Best Buy Stock Down 1.5%

BBY stock traded down $1.25 during mid-day trading on Wednesday, hitting $81.42. 2,894,453 shares of the company were exchanged, compared to its average volume of 3,607,065. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The firm has a market cap of $17.11 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.13 and a beta of 1.23. The firm's 50 day simple moving average is $75.27 and its 200 day simple moving average is $70.51. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $95.49.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period last year, the company earned $1.34 earnings per share. The firm's revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were issued a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.7%. Best Buy's dividend payout ratio (DPR) is 104.97%.

Hedge Funds Weigh In On Best Buy

Several hedge funds and other institutional investors have recently made changes to their positions in BBY. Cerity Partners LLC boosted its position in Best Buy by 63.3% during the third quarter. Cerity Partners LLC now owns 299,093 shares of the technology retailer's stock worth $22,617,000 after purchasing an additional 115,978 shares during the period. Gries Financial LLC bought a new position in Best Buy during the third quarter worth $219,000. Robeco Institutional Asset Management B.V. boosted its position in Best Buy by 37.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 751,252 shares of the technology retailer's stock worth $56,810,000 after purchasing an additional 203,594 shares during the period. CWA Asset Management Group LLC bought a new position in Best Buy during the third quarter worth $257,000. Finally, Centennial Wealth Advisory LLC boosted its position in Best Buy by 10.6% during the third quarter. Centennial Wealth Advisory LLC now owns 6,728 shares of the technology retailer's stock worth $509,000 after purchasing an additional 647 shares during the period. 80.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of recent research reports. Piper Sandler reiterated a "neutral" rating and issued a $75.00 price objective (down from $82.00) on shares of Best Buy in a report on Monday, July 14th. Wells Fargo & Company lifted their price objective on shares of Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a report on Friday, August 29th. Evercore ISI lifted their price objective on shares of Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday, August 29th. Truist Financial lifted their price objective on shares of Best Buy from $69.00 to $72.00 and gave the company a "hold" rating in a report on Friday, August 29th. Finally, Argus reissued a "hold" rating on shares of Best Buy in a research note on Tuesday, September 16th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $81.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.