Best Buy Co Inc (NYSE:BBY) insider Todd G. Hartman sold 9,008 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $72.01, for a total value of $648,666.08. Following the transaction, the insider now directly owns 33,974 shares in the company, valued at $2,446,467.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Best Buy stock opened at $74.77 on Friday. Best Buy Co Inc has a one year low of $47.72 and a one year high of $84.37. The business has a fifty day moving average of $67.41. The company has a market cap of $19.97 billion, a PE ratio of 14.05, a P/E/G ratio of 1.43 and a beta of 1.07. The company has a current ratio of 1.12, a quick ratio of 0.39 and a debt-to-equity ratio of 1.00.
Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 23rd. The technology retailer reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.14. Best Buy had a return on equity of 47.91% and a net margin of 3.54%. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the prior year, the business posted $0.82 EPS. Best Buy’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Best Buy Co Inc will post 5.74 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in Best Buy by 0.9% in the 1st quarter. FMR LLC now owns 23,761,834 shares of the technology retailer’s stock worth $1,688,517,000 after buying an additional 215,871 shares in the last quarter. BlackRock Inc. increased its stake in Best Buy by 1.7% in the 1st quarter. BlackRock Inc. now owns 17,406,620 shares of the technology retailer’s stock worth $1,236,916,000 after buying an additional 295,060 shares in the last quarter. Norges Bank purchased a new stake in Best Buy in the 4th quarter worth $145,454,000. Amundi Pioneer Asset Management Inc. increased its stake in Best Buy by 5.5% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,471,392 shares of the technology retailer’s stock worth $130,885,000 after buying an additional 128,144 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Best Buy by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,414,905 shares of the technology retailer’s stock worth $127,879,000 after buying an additional 171,050 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.
Several equities analysts have recently weighed in on BBY shares. Evercore ISI started coverage on Polarityte in a report on Wednesday, March 20th. They set an “outperform” rating and a $26.00 price target on the stock. Guggenheim started coverage on Best Buy in a report on Monday, July 8th. They set a “buy” rating and a $80.00 price target on the stock. Zacks Investment Research cut German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Wedbush set a $79.00 price target on Aimmune Therapeutics and gave the company a “buy” rating in a report on Friday, May 24th. Finally, Jefferies Financial Group cut MACOM Technology Solutions from a “buy” rating to a “hold” rating and lowered their price target for the company from $18.00 to $15.00 in a report on Wednesday, April 24th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $77.67.
Best Buy Company Profile
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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