Insider Selling: Best Buy Co Inc (NYSE:BBY) Insider Sells $648,666.08 in Stock

Best Buy Co Inc (NYSE:BBY) insider Todd G. Hartman sold 9,008 shares of Best Buy stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $72.01, for a total value of $648,666.08. Following the sale, the insider now directly owns 33,974 shares of the company’s stock, valued at approximately $2,446,467.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE BBY opened at $74.77 on Friday. Best Buy Co Inc has a 1-year low of $47.72 and a 1-year high of $84.37. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.39 and a current ratio of 1.12. The firm has a 50-day moving average of $67.41. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.43 and a beta of 1.07.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, May 23rd. The technology retailer reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.14. Best Buy had a return on equity of 47.91% and a net margin of 3.54%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the previous year, the business earned $0.82 EPS. Best Buy’s revenue was up .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Best Buy Co Inc will post 5.74 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Thursday, June 13th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 12th. This represents a $2.00 dividend on an annualized basis and a yield of 2.67%. Best Buy’s dividend payout ratio is presently 37.59%.

A number of large investors have recently made changes to their positions in BBY. PRW Wealth Management LLC purchased a new position in Best Buy during the 4th quarter valued at about $33,000. Semmax Financial Advisors Inc. purchased a new position in Best Buy during the 4th quarter valued at about $33,000. Oppenheimer Asset Management Inc. purchased a new position in Best Buy during the 1st quarter valued at about $34,000. Braun Bostich & Associates Inc. purchased a new position in Best Buy during the 1st quarter valued at about $40,000. Finally, Executive Wealth Management LLC purchased a new position in Best Buy during the 4th quarter valued at about $41,000. Institutional investors own 78.78% of the company’s stock.

Several equities research analysts have issued reports on BBY shares. Wedbush set a $79.00 price target on Aimmune Therapeutics and gave the stock a “buy” rating in a research note on Friday, May 24th. Guggenheim started coverage on Best Buy in a research note on Monday, July 8th. They set a “buy” rating and a $80.00 price target for the company. Cleveland Research reaffirmed a “neutral” rating on shares of Best Buy in a research note on Tuesday, June 18th. Goldman Sachs Group raised Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Thursday. Finally, Zacks Investment Research lowered German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $77.67.

About Best Buy

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 Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

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

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