Best Buy Co., Inc. (NYSE:BBY) major shareholder Richard M. Schulze sold 75,000 shares of Best Buy stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.19, for a total value of $4,889,250.00. Following the sale, the insider now directly owns 1,732,500 shares in the company, valued at approximately $112,941,675. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Best Buy Co., Inc. (NYSE BBY) traded up $1.57 during trading on Friday, hitting $65.32. The company had a trading volume of 6,621,551 shares, compared to its average volume of 3,999,032. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.52. The company has a market cap of $18,635.81, a P/E ratio of 15.86, a PEG ratio of 1.35 and a beta of 1.40. Best Buy Co., Inc. has a 1-year low of $41.67 and a 1-year high of $65.54.
Best Buy (NYSE:BBY) last posted its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. Best Buy’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. sell-side analysts anticipate that Best Buy Co., Inc. will post 4.02 EPS for the current year.
Several institutional investors have recently bought and sold shares of BBY. Dimensional Fund Advisors LP raised its position in Best Buy by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,828,752 shares of the technology retailer’s stock valued at $276,833,000 after purchasing an additional 154,426 shares during the last quarter. Bank of New York Mellon Corp raised its position in Best Buy by 27.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock valued at $228,696,000 after purchasing an additional 866,787 shares during the last quarter. Renaissance Technologies LLC raised its position in Best Buy by 762.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock valued at $202,312,000 after purchasing an additional 3,119,700 shares during the last quarter. APG Asset Management N.V. raised its position in Best Buy by 27.6% in the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock valued at $190,263,000 after purchasing an additional 723,500 shares during the last quarter. Finally, LSV Asset Management raised its position in Best Buy by 3.5% in the 2nd quarter. LSV Asset Management now owns 2,015,293 shares of the technology retailer’s stock valued at $115,536,000 after purchasing an additional 69,000 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.
BBY has been the topic of several recent research reports. BidaskClub raised Best Buy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Zacks Investment Research raised Best Buy from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, October 10th. Jefferies Group reissued a “hold” rating and set a $60.00 price objective on shares of Best Buy in a report on Monday, November 13th. They noted that the move was a valuation call. Loop Capital reissued a “buy” rating and set a $72.00 price objective on shares of Best Buy in a report on Thursday, August 31st. Finally, Wedbush set a $33.00 price objective on Best Buy and gave the stock a “sell” rating in a report on Monday, November 13th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Best Buy has a consensus rating of “Hold” and an average price target of $58.81.
Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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