Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:
Best Buy Co., Inc. (NYSE:BBY - Get Rating) Chairman Richard M. Schulze acquired 250,000 shares of the stock in a transaction dated Wednesday, May 25th. The shares were bought at an average price of $79.60 per share, for a total transaction of $19,900,000.00. Following the transaction, the chairman now owns 20,464,051 shares in the company, valued at approximately $1,628,938,459.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
NYSE:BBY traded up $1.94 during mid-day trading on Friday, hitting $83.99. 3,313,219 shares of the company's stock were exchanged, compared to its average volume of 3,324,378. Best Buy Co., Inc. has a one year low of $69.07 and a one year high of $141.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.43. The business has a fifty day moving average price of $90.71 and a 200 day moving average price of $99.76. The company has a market cap of $18.90 billion, a PE ratio of 8.34, a P/E/G ratio of 0.86 and a beta of 1.42.
Best Buy (NYSE:BBY - Get Rating) last issued its earnings results on Tuesday, May 24th. The technology retailer reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.04). The firm had revenue of $10.65 billion during the quarter, compared to analysts' expectations of $10.43 billion. Best Buy had a return on equity of 63.23% and a net margin of 4.74%. The firm's quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the firm posted $2.23 earnings per share. On average, equities analysts forecast that Best Buy Co., Inc. will post 8.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Tuesday, June 14th will be issued a $0.88 dividend. The ex-dividend date is Monday, June 13th. This represents a $3.52 annualized dividend and a yield of 4.19%. Best Buy's dividend payout ratio (DPR) is presently 35.77%.
BBY has been the topic of several research reports. The Goldman Sachs Group lowered their price objective on shares of Best Buy from $96.00 to $82.00 and set a "sell" rating on the stock in a research report on Thursday. UBS Group lowered their price objective on shares of Best Buy to $80.00 in a research report on Wednesday. Barclays cut shares of Best Buy from an "overweight" rating to an "equal weight" rating and set a $80.00 price objective on the stock. in a research report on Wednesday. Zacks Investment Research upgraded shares of Best Buy from a "sell" rating to a "hold" rating and set a $76.00 target price on the stock in a research report on Monday. Finally, Telsey Advisory Group decreased their target price on shares of Best Buy from $130.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, May 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Best Buy has an average rating of "Hold" and an average target price of $95.67.
A number of institutional investors have recently modified their holdings of BBY. Leuthold Group LLC raised its holdings in shares of Best Buy by 0.3% during the third quarter. Leuthold Group LLC now owns 26,301 shares of the technology retailer's stock valued at $2,780,000 after purchasing an additional 81 shares during the last quarter. Cetera Investment Advisers increased its holdings in Best Buy by 2.0% during the third quarter. Cetera Investment Advisers now owns 4,332 shares of the technology retailer's stock valued at $458,000 after buying an additional 83 shares during the last quarter. MML Investors Services LLC increased its holdings in Best Buy by 1.3% during the third quarter. MML Investors Services LLC now owns 6,620 shares of the technology retailer's stock valued at $700,000 after buying an additional 84 shares during the last quarter. Stonebridge Capital Advisors LLC increased its holdings in Best Buy by 65.4% during the third quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer's stock valued at $27,000 after buying an additional 100 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC increased its holdings in Best Buy by 4.2% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 2,627 shares of the technology retailer's stock valued at $267,000 after buying an additional 106 shares during the last quarter. 80.79% of the stock is owned by institutional investors and hedge funds.
About Best Buy (Get Rating)
Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.
Read MoreGet a free copy of the StockNews.com research report on Best Buy (BBY)MarketBeat: Week in Review 5/23 – 5/27Short Sellers Provide Entry Into Hibbet, Inc At Rock Bottom Prices Affirm Stock Has Affirmed a BottomAirbnb: Bold Competitive Threats & A New World of TravelIs RBC Bearings Rolling Into A Reversal?
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 [email protected]
Before you consider Best Buy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Best Buy wasn't on the list.
While Best Buy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:
Each market day you'll get a one-minute market summary to help you invest wisely.
Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.
MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.
Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.
Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.
MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.
Twitter Facebook StockTwits Financial Juice YouTube
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved. 326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257 MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.