Best Buy Co., Inc. (BBY) CEO Hubert Joly Sells 106,942 Shares of Stock
Best Buy Co., Inc. (NYSE:BBY) CEO Hubert Joly sold 106,942 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the completion of the sale, the chief executive officer now directly owns 645,222 shares in the company, valued at $35,280,738.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Hubert Joly also recently made the following trade(s):
- On Monday, August 21st, Hubert Joly sold 14,734 shares of Best Buy Co. stock. The stock was sold at an average price of $59.92, for a total transaction of $882,861.28.
Shares of Best Buy Co., Inc. (BBY) traded down 0.11% during mid-day trading on Thursday, hitting $55.60. 900,997 shares of the company were exchanged. The stock has a market cap of $16.91 billion, a PE ratio of 14.71 and a beta of 1.48. The stock’s 50-day moving average price is $58.44 and its 200 day moving average price is $53.18. Best Buy Co., Inc. has a 12-month low of $36.51 and a 12-month high of $63.32. Best Buy Co. also saw some unusual options trading on Monday. Traders purchased 993 call options on the stock. This is an increase of approximately 163% compared to the typical volume of 378 call options.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The company had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.67 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. On average, equities analysts anticipate that Best Buy Co., Inc. will post $4.05 EPS for the current fiscal 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 paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy Co.’s dividend payout ratio is 35.88%.
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Several equities research analysts recently issued reports on BBY shares. Loop Capital reissued a “buy” rating and issued a $72.00 target price (up from $64.00) on shares of Best Buy Co. in a research report on Monday, June 5th. Barclays PLC reissued a “buy” rating and issued a $65.00 target price on shares of Best Buy Co. in a research report on Monday, August 28th. Deutsche Bank AG reissued a “buy” rating and issued a $58.00 target price (down from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Morgan Stanley raised shares of Best Buy Co. from an “equal weight” rating to a “buy” rating and raised their target price for the stock from $43.00 to $60.00 in a research report on Tuesday, May 30th. Finally, BidaskClub raised shares of Best Buy Co. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy Co. presently has an average rating of “Buy” and a consensus target price of $58.92.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Best Buy Co. by 4.0% during the first quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock valued at $1,602,962,000 after buying an additional 1,241,888 shares during the period. BlackRock Inc. boosted its stake in Best Buy Co. by 1,859.1% during the first quarter. BlackRock Inc. now owns 20,064,628 shares of the technology retailer’s stock valued at $986,174,000 after buying an additional 19,040,478 shares during the period. JPMorgan Chase & Co. boosted its stake in Best Buy Co. by 6.5% during the first quarter. JPMorgan Chase & Co. now owns 14,724,133 shares of the technology retailer’s stock valued at $723,692,000 after buying an additional 898,300 shares during the period. State Street Corp boosted its stake in Best Buy Co. by 1.9% during the first quarter. State Street Corp now owns 13,700,994 shares of the technology retailer’s stock valued at $673,407,000 after buying an additional 250,469 shares during the period. Finally, American International Group Inc. boosted its stake in Best Buy Co. by 1.3% during 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 buying an additional 142,042 shares during the period. 86.46% of the stock is owned by institutional investors.
Best Buy Co. Company Profile
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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