Insider Selling: Best Buy Co., Inc. (BBY) Major Shareholder Sells 475,000 Shares of Stock

Best Buy Co., Inc. (NYSE:BBY) major shareholder Richard M. Schulze sold 475,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $62.68, for a total transaction of $29,773,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of Best Buy Co., Inc. (NYSE BBY) traded up $2.30 during trading on Friday, hitting $63.79. 4,336,000 shares of the company traded hands, compared to its average volume of 4,468,430. The stock has a market cap of $17,823.15, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.27 and a beta of 1.40. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Best Buy Co., Inc. has a 52-week low of $41.67 and a 52-week high of $64.12.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The firm had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.36 billion. During the same period last year, the firm posted $0.60 EPS. Best Buy’s revenue was up 4.2% on a year-over-year basis. analysts anticipate that Best Buy Co., Inc. will post 4.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $1.36 annualized dividend and a yield of 2.13%. Best Buy’s dividend payout ratio (DPR) is presently 34.34%.

Several analysts have commented on BBY shares. Loop Capital reissued a “buy” rating and set a $72.00 price target on shares of Best Buy in a research report on Wednesday, August 16th. Oppenheimer reissued a “hold” rating on shares of Best Buy in a research report on Wednesday, September 20th. Moffett Nathanson started coverage on shares of Best Buy in a research report on Monday. They set a “sell” rating for the company. Piper Jaffray Companies reissued a “buy” rating and set a $70.00 price target on shares of Best Buy in a research report on Wednesday, August 23rd. Finally, Telsey Advisory Group decreased their price target on shares of Best Buy from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, September 20th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Best Buy currently has an average rating of “Hold” and a consensus price target of $58.81.

Large investors have recently modified their holdings of the stock. FNY Managed Accounts LLC increased its holdings in Best Buy by 18,281.8% in the 2nd quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock worth $114,000 after buying an additional 2,011 shares during the period. Fieldpoint Private Securities LLC acquired a new position in Best Buy in the 3rd quarter worth approximately $139,000. Northwestern Mutual Wealth Management Co. increased its holdings in Best Buy by 6.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock worth $159,000 after buying an additional 163 shares during the period. Smithfield Trust Co. acquired a new position in Best Buy in the 3rd quarter worth approximately $178,000. Finally, Keybank National Association OH acquired a new position in Best Buy in the 2nd quarter worth approximately $200,000. Institutional investors own 86.50% of the company’s stock.

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About Best Buy

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.

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

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