Best Buy Co., Inc. (BBY) Major Shareholder Sells $3,970,200.00 in Stock

Best Buy Co., Inc. (NYSE:BBY) major shareholder Richard M. Schulze sold 65,000 shares of Best Buy stock in a transaction on Monday, December 4th. The shares were sold at an average price of $61.08, for a total transaction of $3,970,200.00. Following the sale, the insider now directly owns 1,732,500 shares of the company’s stock, valued at approximately $105,821,100. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Best Buy Co., Inc. (BBY) opened at $61.49 on Friday. The company has a market cap of $17,980.00, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.29 and a beta of 1.40. Best Buy Co., Inc. has a twelve month low of $41.67 and a twelve month high of $63.32. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. analysts expect that Best Buy Co., Inc. will post 4.03 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.21%. Best Buy’s payout ratio is 34.43%.

Several large investors have recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in shares of Best Buy by 0.3% during the 2nd quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock worth $860,000 after purchasing an additional 48 shares during the period. Advisor Group Inc. increased its holdings in shares of Best Buy by 1.2% during the 2nd quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock worth $265,000 after purchasing an additional 55 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Best Buy by 6.2% during the 2nd 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. Thrivent Financial For Lutherans increased its holdings in shares of Best Buy by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock worth $576,000 after purchasing an additional 170 shares during the period. Finally, Financial Advisors Network Inc. increased its holdings in shares of Best Buy by 2.3% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,550 shares of the technology retailer’s stock worth $433,000 after purchasing an additional 172 shares during the period. Institutional investors own 86.50% of the company’s stock.

A number of brokerages have issued reports on BBY. Wedbush set a $32.00 target price on shares of Best Buy and gave the company a “sell” rating in a research note on Wednesday, November 29th. Loop Capital reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Best Buy in a research note on Wednesday, August 16th. Moffett Nathanson began coverage on shares of Best Buy in a research note on Monday. They issued a “sell” rating for the company. Oppenheimer reaffirmed a “hold” rating on shares of Best Buy in a research note on Wednesday, September 20th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Best Buy in a research note on Wednesday, August 23rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $58.81.

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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.

Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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