Traders Buy High Volume of Best Buy Co. Call Options (BBY)
Best Buy Co., Inc. (NYSE:BBY) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 993 call options on the stock. This represents an increase of approximately 163% compared to the typical volume of 378 call options.
Shares of Best Buy Co. (NYSE:BBY) opened at $55.83 on Friday. The firm has a market cap of $16,530.00, a P/E ratio of 14.82, a PEG ratio of 1.18 and a beta of 1.42. The company has a quick ratio of 0.69, a current ratio of 1.42 and a debt-to-equity ratio of 0.30. Best Buy Co. has a 1-year low of $41.67 and a 1-year high of $63.32.
Best Buy Co. (NYSE:BBY) last announced its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.36 billion. Best Buy Co. had a net margin of 3.00% and a return on equity of 27.41%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. research analysts predict that Best Buy Co. will post 4.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.44%. Best Buy Co.’s payout ratio is 36.07%.
Several equities analysts recently commented on BBY shares. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Best Buy Co. in a research note on Tuesday, August 29th. Barclays PLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Best Buy Co. in a research note on Monday, August 28th. Loop Capital set a $72.00 price objective on shares of Best Buy Co. and gave the company a “buy” rating in a research note on Tuesday, October 24th. Deutsche Bank AG reaffirmed a “buy” rating and set a $58.00 price objective (down previously from $60.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. Finally, Royal Bank Of Canada boosted their price objective on shares of Best Buy Co. from $60.00 to $61.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 30th. Three analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy Co. currently has an average rating of “Buy” and an average target price of $58.86.
In other news, VP Mathew Watson sold 1,129 shares of Best Buy Co. stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $61,733.72. Following the completion of the transaction, the vice president now owns 17,764 shares in the company, valued at $971,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Corie S. Barry sold 787 shares of Best Buy Co. stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $47,157.04. Following the completion of the transaction, the chief financial officer now owns 54,159 shares of the company’s stock, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. Insiders sold 166,259 shares of company stock valued at $9,182,693 in the last quarter. Corporate insiders own 1.21% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BBY. Renaissance Technologies LLC increased its stake in shares of Best Buy Co. by 762.4% in the second quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after buying an additional 3,119,700 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Best Buy Co. by 27.5% in the third quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after buying an additional 866,787 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Best Buy Co. by 125.4% in the second quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock worth $79,563,000 after buying an additional 772,200 shares during the period. APG Asset Management N.V. increased its stake in shares of Best Buy Co. by 27.6% in the third quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after buying an additional 723,500 shares during the period. Finally, 1060 Capital LLC purchased a new position in shares of Best Buy Co. in the third quarter worth $35,849,000. 87.52% of the stock is currently owned by institutional investors.
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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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