Matthew M. Bilunas Sells 9,482 Shares of Best Buy Co., Inc. (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) CFO Matthew M. Bilunas sold 9,482 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $688,867.30. Following the sale, the chief financial officer now owns 106,856 shares of the company’s stock, valued at $7,763,088.40. This represents a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Best Buy Price Performance

Shares of NYSE:BBY traded up $0.16 during trading on Wednesday, reaching $74.78. The company had a trading volume of 2,397,876 shares, compared to its average volume of 3,091,733. The firm has a market capitalization of $15.81 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The firm’s fifty day moving average is $83.01 and its 200 day moving average is $88.68.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period last year, the firm posted $2.72 earnings per share. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.08%. This is an increase from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio is currently 88.99%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BBY shares. Evercore ISI dropped their price objective on Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a report on Wednesday, March 5th. Guggenheim dropped their target price on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Wedbush restated a “neutral” rating and set a $90.00 price objective on shares of Best Buy in a research note on Monday, March 3rd. Wells Fargo & Company lowered their price target on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price objective on Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $93.50.

Hedge Funds Weigh In On Best Buy

A number of institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. increased its position in shares of Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after acquiring an additional 311 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Best Buy during the 4th quarter valued at $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Best Buy in the fourth quarter valued at $32,000. Atlas Capital Advisors Inc. boosted its position in shares of Best Buy by 186.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after buying an additional 243 shares during the period. Finally, Ancora Advisors LLC grew its holdings in shares of Best Buy by 18,700.0% during the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock valued at $32,000 after buying an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

About Best Buy

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.