Richard Schulze Sells 5,100 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) Chairman Richard Schulze sold 5,100 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $78.00, for a total transaction of $397,800.00. Following the transaction, the chairman directly owned 10,849,537 shares in the company, valued at $846,263,886. The trade was a 0.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Best Buy Stock Up 2.4%

BBY stock opened at $74.89 on Friday. The stock has a market capitalization of $15.78 billion, a P/E ratio of 13.87, a PEG ratio of 1.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99. The company has a 50 day moving average price of $65.39 and a two-hundred day moving average price of $66.56.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The company had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the prior year, the company posted $1.15 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 5.1%. Best Buy’s dividend payout ratio is 71.11%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Huntington National Bank increased its position in shares of Best Buy by 12.0% in the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after acquiring an additional 139 shares in the last quarter. Krane Funds Advisors LLC boosted its position in Best Buy by 3.0% during the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock worth $346,000 after purchasing an additional 151 shares during the period. Linden Thomas Advisory Services LLC boosted its position in Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after purchasing an additional 152 shares during the period. Applied Finance Capital Management LLC increased its holdings in Best Buy by 3.8% in the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock valued at $286,000 after purchasing an additional 157 shares in the last quarter. Finally, International Private Wealth Advisors LLC increased its holdings in Best Buy by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock valued at $224,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. HSBC dropped their price objective on shares of Best Buy from $96.00 to $85.00 in a research note on Thursday, February 26th. Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, May 29th. DA Davidson reaffirmed a “buy” rating and set a $78.00 price target on shares of Best Buy in a research report on Friday, May 29th. JPMorgan Chase & Co. increased their price target on shares of Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, UBS Group reissued a “neutral” rating and set a $86.00 price objective (up from $85.00) on shares of Best Buy in a research note on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.05.

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.