Corie S. Barry Acquires 13,500 Shares of Best Buy Co., Inc. (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) CEO Corie S. Barry purchased 13,500 shares of Best Buy stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the transaction, the chief executive officer now directly owns 378,780 shares in the company, valued at $27,620,637.60. This represents a 3.70 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Best Buy Stock Performance

Shares of Best Buy stock opened at $71.56 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The business has a 50-day simple moving average of $84.40 and a 200 day simple moving average of $89.94. The firm has a market capitalization of $15.30 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion for 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 quarter last year, the firm earned $2.72 EPS. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be paid a $0.95 dividend. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 annualized dividend and a dividend yield of 5.31%. Best Buy’s dividend payout ratio is presently 88.99%.

Institutional Trading of Best Buy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Best Buy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer’s stock valued at $1,971,908,000 after buying an additional 191,161 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Best Buy by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer’s stock valued at $562,880,000 after acquiring an additional 395,415 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Best Buy during the fourth quarter worth $514,483,000. Geode Capital Management LLC boosted its position in Best Buy by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer’s stock worth $436,210,000 after purchasing an additional 239,840 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Best Buy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock valued at $328,136,000 after purchasing an additional 459,353 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of a number of research analyst reports. Evercore ISI reduced their target price 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. UBS Group set a $105.00 price objective on Best Buy in a research note on Wednesday, March 5th. Barclays dropped their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Loop Capital reissued a “negative” rating on shares of Best Buy in a report on Wednesday, March 5th. Finally, Citigroup reduced their target price on shares of Best Buy from $105.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Best Buy currently has an average rating of “Hold” and an average target price of $93.50.

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.