Best Buy Co Inc (NYSE:BBY) SVP Mathew Watson sold 1,326 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $69.43, for a total value of $92,064.18. Following the completion of the sale, the senior vice president now directly owns 20,953 shares of the company’s stock, valued at approximately $1,454,766.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Mathew Watson also recently made the following trade(s):
- On Tuesday, March 13th, Mathew Watson sold 225 shares of Best Buy stock. The shares were sold at an average price of $72.45, for a total value of $16,301.25.
- On Tuesday, March 6th, Mathew Watson sold 990 shares of Best Buy stock. The shares were sold at an average price of $77.21, for a total value of $76,437.90.
Best Buy stock opened at $68.12 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. Best Buy Co Inc has a 1 year low of $44.54 and a 1 year high of $78.59. The firm has a market capitalization of $20,474.55, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 22nd will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $1.80 annualized dividend and a yield of 2.64%. This is a boost from Best Buy’s previous quarterly dividend of $0.34. Best Buy’s payout ratio is currently 41.46%.
A number of hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB boosted its position in Best Buy by 4.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 56,001 shares of the technology retailer’s stock worth $3,834,000 after purchasing an additional 2,631 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Best Buy by 2.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 269,414 shares of the technology retailer’s stock worth $18,447,000 after purchasing an additional 6,722 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Best Buy by 36.6% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 19,416 shares of the technology retailer’s stock worth $1,329,000 after purchasing an additional 5,200 shares during the last quarter. First Commonwealth Financial Corp PA purchased a new position in Best Buy in the fourth quarter worth $212,000. Finally, SWS Partners purchased a new position in Best Buy in the fourth quarter worth $110,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.
BBY has been the subject of a number of research reports. Loop Capital set a $80.00 price objective on Best Buy and gave the company a “buy” rating in a research note on Tuesday, January 16th. ValuEngine raised Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Jefferies Group reissued a “buy” rating and issued a $74.00 price objective (up previously from $60.00) on shares of Best Buy in a research note on Tuesday, February 27th. Bank of America raised 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, Morgan Stanley reissued an “equal weight” rating and issued a $74.00 price objective (up previously from $66.00) on shares of Best Buy in a research note on Friday, March 2nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $69.42.
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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