Best Buy (NYSE:BBY) Chairman Richard Schulze Sells 74,553 Shares of Stock

Best Buy Co., Inc. (NYSE:BBY) Chairman Richard Schulze sold 74,553 shares of Best Buy stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value of $6,285,563.43. Following the sale, the chairman directly owned 11,451,911 shares of the company’s stock, valued at $965,510,616.41. This represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Best Buy Price Performance

Shares of Best Buy stock opened at $82.23 on Friday. The firm has a market capitalization of $17.28 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $95.49. The business’s 50-day moving average price is $76.89 and its 200-day moving average price is $71.77.

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

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is currently 104.97%.

Analyst Ratings Changes

BBY has been the topic of a number of research reports. Bank of America decreased their price objective on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a report on Friday, August 29th. Piper Sandler reissued a “neutral” rating and set a $75.00 price objective (down from $82.00) on shares of Best Buy in a report on Monday, July 14th. Citigroup reissued a “buy” rating on shares of Best Buy in a research note on Thursday, August 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Finally, Argus reissued a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IFM Investors Pty Ltd grew its stake in shares of Best Buy by 6.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock worth $3,284,000 after buying an additional 3,040 shares during the last quarter. Blackhawk Capital Partners LLC. purchased a new stake in shares of Best Buy in the 1st quarter worth approximately $1,574,000. Alberta Investment Management Corp grew its stake in shares of Best Buy by 25.6% in the 1st quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock worth $2,422,000 after buying an additional 6,700 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its stake in shares of Best Buy by 191.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock worth $789,000 after buying an additional 7,043 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Best Buy in the 1st quarter worth approximately $370,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

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.