Best Buy Co., Inc. (NYSE:BBY) saw unusually large options trading activity on Monday. Stock investors acquired 993 call options on the stock. This represents an increase of approximately 163% compared to the typical daily volume of 378 call options.

Best Buy Co. (NYSE BBY) opened at 58.76 on Friday. Best Buy Co. has a 12 month low of $37.10 and a 12 month high of $63.32. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 15.55 and a beta of 1.51. The stock’s 50 day moving average price is $57.03 and its 200-day moving average price is $54.86.

Best Buy Co. (NYSE:BBY) last announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. Best Buy Co.’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Best Buy Co. will post $4.06 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy Co.’s dividend payout ratio is presently 35.88%.

In related news, CFO Corie S. Barry sold 787 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $47,157.04. Following the transaction, the chief financial officer now owns 54,159 shares in the company, valued at approximately $3,245,207.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hubert Joly sold 14,734 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $882,861.28. Following the completion of the transaction, the chief executive officer now owns 540,694 shares in the company, valued at approximately $32,398,384.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,259 shares of company stock worth $9,182,693. 1.21% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in Best Buy Co. by 68.0% in the first quarter. Pacer Advisors Inc. now owns 8,223 shares of the technology retailer’s stock valued at $404,000 after purchasing an additional 3,329 shares during the last quarter. Nordea Investment Management AB grew its holdings in Best Buy Co. by 3.3% in the first quarter. Nordea Investment Management AB now owns 14,952 shares of the technology retailer’s stock valued at $735,000 after purchasing an additional 477 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Best Buy Co. by 13.0% in the first quarter. Victory Capital Management Inc. now owns 88,309 shares of the technology retailer’s stock valued at $4,340,000 after purchasing an additional 10,142 shares during the last quarter. American International Group Inc. grew its holdings in Best Buy Co. by 1.3% in the first quarter. American International Group Inc. now owns 10,846,704 shares of the technology retailer’s stock valued at $533,116,000 after purchasing an additional 142,042 shares during the last quarter. Finally, Cibc World Markets Corp grew its holdings in Best Buy Co. by 25.3% in the first quarter. Cibc World Markets Corp now owns 47,257 shares of the technology retailer’s stock valued at $2,323,000 after purchasing an additional 9,553 shares during the last quarter. 88.11% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on BBY shares. Piper Jaffray Companies set a $70.00 price target on shares of Best Buy Co. and gave the stock a “buy” rating in a report on Monday, June 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Best Buy Co. in a report on Thursday, July 6th. Loop Capital reiterated a “buy” rating and issued a $72.00 price target on shares of Best Buy Co. in a report on Monday, July 10th. Sanford C. Bernstein set a $47.00 price target on shares of Best Buy Co. and gave the stock a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Best Buy Co. from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $58.79.

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About Best Buy Co.

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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