Insider Selling: Best Buy Co., Inc. (NYSE:BBY) Insider Sells 365 Shares of Stock

Best Buy Co., Inc. (NYSE:BBY) insider Damien Harmon sold 365 shares of the company’s stock in a transaction on Monday, January 10th. The shares were sold at an average price of $101.72, for a total transaction of $37,127.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

BBY opened at $100.04 on Friday. Best Buy Co., Inc. has a twelve month low of $94.54 and a twelve month high of $141.97. The company has a quick ratio of 0.42, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $110.39 and a 200 day moving average price of $112.34. The company has a market cap of $24.07 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.54.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 23rd. The technology retailer reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. Best Buy had a net margin of 5.05% and a return on equity of 63.58%. The firm had revenue of $11.91 billion during the quarter, compared to the consensus estimate of $11.62 billion. During the same quarter in the prior year, the firm earned $2.06 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 10.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 4th. Shareholders of record on Tuesday, December 14th were issued a $0.70 dividend. The ex-dividend date was Monday, December 13th. This represents a $2.80 dividend on an annualized basis and a yield of 2.80%. Best Buy’s payout ratio is 27.13%.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Best Buy from a “buy” rating to a “hold” rating and set a $122.00 price target on the stock. in a report on Monday, November 29th. Truist Securities initiated coverage on shares of Best Buy in a report on Thursday. They issued a “hold” rating and a $108.00 price target on the stock. Truist initiated coverage on shares of Best Buy in a research report on Thursday. They issued a “hold” rating and a $108.00 price objective for the company. Jefferies Financial Group decreased their price objective on shares of Best Buy from $145.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, November 24th. Finally, Piper Sandler upgraded shares of Best Buy to a “buy” rating and upped their price objective for the stock from $150.00 to $155.00 in a research report on Tuesday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $127.18.

Hedge funds have recently added to or reduced their stakes in the business. Stonebridge Capital Advisors LLC raised its holdings in Best Buy by 65.4% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Jacobi Capital Management LLC acquired a new stake in Best Buy in the 3rd quarter valued at about $29,000. Newbridge Financial Services Group Inc. raised its holdings in Best Buy by 279.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 300 shares of the technology retailer’s stock valued at $34,000 after acquiring an additional 221 shares during the last quarter. TCI Wealth Advisors Inc. raised its holdings in Best Buy by 34.6% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 362 shares of the technology retailer’s stock valued at $38,000 after acquiring an additional 93 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Best Buy by 345.8% in the 3rd quarter. Allworth Financial LP now owns 428 shares of the technology retailer’s stock valued at $45,000 after acquiring an additional 332 shares during the last quarter. Institutional investors own 78.82% of the company’s stock.

About Best Buy

Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment comprises of the operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.

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Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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