Investors Sell Shares of Best Buy (BBY) on Strength After Insider Selling

Investors sold shares of Best Buy Co., Inc. (NYSE:BBY) on strength during trading on Monday following insider selling activity. $61.51 million flowed into the stock on the tick-up and $98.34 million flowed out of the stock on the tick-down, for a money net flow of $36.83 million out of the stock. Of all equities tracked, Best Buy had the 0th highest net out-flow for the day. Best Buy traded up $2.20 for the day and closed at $62.55Specifically, insider Shari L. Ballard sold 40,018 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the transaction, the insider now directly owns 99,304 shares in the company, valued at $5,578,898.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathleen Scarlett sold 10,797 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total transaction of $566,734.53. Following the transaction, the insider now owns 25,690 shares in the company, valued at $1,348,468.10. The disclosure for this sale can be found here. Insiders have sold 2,098,184 shares of company stock worth $124,544,562 over the last quarter. 0.84% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on BBY. Oppenheimer reiterated a “hold” rating on shares of Best Buy in a research report on Tuesday, August 29th. BidaskClub upgraded shares of Best Buy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Barclays reiterated a “buy” rating and set a $65.00 target price on shares of Best Buy in a research report on Monday, August 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 target price on shares of Best Buy in a research report on Wednesday, August 23rd. Finally, Jefferies Group reiterated a “hold” rating and set a $60.00 target price on shares of Best Buy in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $58.81.

The firm has a market cap of $17,641.90, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.25 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. Best Buy’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. equities research analysts expect that Best Buy Co., Inc. will post 4.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a yield of 2.19%. Best Buy’s dividend payout ratio (DPR) is presently 34.34%.

A number of institutional investors and hedge funds have recently bought and sold shares of BBY. FNY Managed Accounts LLC raised its holdings in Best Buy by 18,281.8% in the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after purchasing an additional 2,011 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Best Buy in the third quarter worth $139,000. Northwestern Mutual Wealth Management Co. raised its holdings in Best Buy by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after purchasing an additional 163 shares during the period. Smithfield Trust Co. acquired a new stake in Best Buy in the third quarter worth $178,000. Finally, Keybank National Association OH acquired a new stake in Best Buy in the second quarter worth $200,000. Institutional investors own 86.50% of the company’s stock.

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Best Buy Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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