Best Buy Co Inc (NYSE:BBY) CFO Corie S. Barry sold 6,309 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $69.43, for a total value of $438,033.87. Following the completion of the sale, the chief financial officer now owns 74,897 shares in the company, valued at approximately $5,200,098.71. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Best Buy Co Inc (NYSE BBY) opened at $68.53 on Tuesday. Best Buy Co Inc has a 52 week low of $43.72 and a 52 week high of $78.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.59 and a current ratio of 1.26. The firm has a market capitalization of $20,383.93, a P/E ratio of 15.53, a P/E/G ratio of 0.96 and a beta of 1.09.
Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, March 1st. The technology retailer reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.37. Best Buy had a return on equity of 32.68% and a net margin of 2.37%. The business had revenue of $15.36 billion for the quarter, compared to the consensus estimate of $14.52 billion. During the same period in the prior year, the business earned $1.93 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. analysts anticipate that Best Buy Co Inc will post 4.97 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. raised its stake in Best Buy by 15.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the technology retailer’s stock worth $357,000 after buying an additional 689 shares during the period. Community Bank & Trust Waco Texas raised its stake in Best Buy by 5.5% during the 4th quarter. Community Bank & Trust Waco Texas now owns 15,205 shares of the technology retailer’s stock worth $1,041,000 after buying an additional 789 shares during the period. New Mexico Educational Retirement Board raised its stake in Best Buy by 3.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 25,521 shares of the technology retailer’s stock worth $1,747,000 after buying an additional 900 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in Best Buy by 9.5% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,556 shares of the technology retailer’s stock worth $601,000 after buying an additional 920 shares during the period. Finally, ARGI Investment Services LLC raised its stake in Best Buy by 6.1% during the 3rd quarter. ARGI Investment Services LLC now owns 16,310 shares of the technology retailer’s stock worth $926,000 after buying an additional 940 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. Loop Capital set a $80.00 price target on Best Buy and gave the company a “buy” rating in a research report on Tuesday, January 16th. Wedbush reiterated an “underperform” rating and issued a $48.00 price target (up previously from $45.00) on shares of Best Buy in a research report on Monday, March 5th. Moffett Nathanson initiated coverage on Best Buy in a research report on Monday, December 4th. They issued a “sell” rating on the stock. Bank of America boosted their price objective on Best Buy from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Piper Jaffray Companies boosted their price objective on Best Buy from $68.00 to $83.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $69.42.
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About Best Buy
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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