Best Buy Co Inc (NYSE:BBY) insider Asheesh Saksena sold 18,570 shares of the firm’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $73.69, for a total value of $1,368,423.30. Following the sale, the insider now directly owns 77,478 shares in the company, valued at $5,709,353.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Best Buy traded up $1.49, hitting $74.81, on Friday, according to MarketBeat Ratings. The company had a trading volume of 6,386,958 shares, compared to its average volume of 3,652,825. The firm has a market cap of $20.47 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.21 and a beta of 0.86. Best Buy Co Inc has a 12-month low of $51.61 and a 12-month high of $79.90. The company has a current ratio of 1.27, a quick ratio of 0.56 and a debt-to-equity ratio of 0.23.
Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 24th. The technology retailer reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.08. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.75 billion. Best Buy had a return on equity of 36.16% and a net margin of 2.39%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. research analysts forecast that Best Buy Co Inc will post 5.01 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on BBY. Loop Capital set a $83.00 price objective on Best Buy and gave the company a “buy” rating in a research report on Wednesday, March 14th. Telsey Advisory Group restated a “market perform” rating and set a $76.00 price objective (up previously from $74.00) on shares of Best Buy in a research report on Friday, March 2nd. Morgan Stanley restated an “equal weight” rating and set a $74.00 price objective (up previously from $66.00) on shares of Best Buy in a research report on Friday, March 2nd. Zacks Investment Research lowered Best Buy from a “buy” rating to a “hold” rating in a research report on Monday, May 28th. Finally, Citigroup restated a “neutral” rating and set a $74.00 price objective (up previously from $69.00) on shares of Best Buy in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Best Buy presently has an average rating of “Hold” and an average price target of $72.41.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SWS Partners purchased a new position in Best Buy in the fourth quarter worth about $110,000. Bristol John W & Co. Inc. NY purchased a new position in Best Buy in the first quarter worth about $129,000. Squar Milner Financial Services LLC purchased a new position in Best Buy in the fourth quarter worth about $201,000. Private Capital Group LLC grew its position in Best Buy by 850.7% in the first quarter. Private Capital Group LLC now owns 2,852 shares of the technology retailer’s stock worth $201,000 after acquiring an additional 2,552 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Best Buy in the first quarter worth about $212,000. Institutional investors own 87.80% of the company’s stock.
Best Buy Company Profile
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.
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