Best Buy Co Inc (NYSE:BBY) Insider Kathleen Scarlett Sells 2,694 Shares

Best Buy Co Inc (NYSE:BBY) insider Kathleen Scarlett sold 2,694 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $64.33, for a total transaction of $173,305.02. Following the completion of the transaction, the insider now owns 30,044 shares of the company’s stock, valued at approximately $1,932,730.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Kathleen Scarlett also recently made the following trade(s):

  • On Wednesday, May 29th, Kathleen Scarlett sold 4,098 shares of Best Buy stock. The stock was sold at an average price of $65.29, for a total transaction of $267,558.42.

Best Buy stock traded up $1.26 during midday trading on Friday, hitting $69.73. 3,010,866 shares of the stock were exchanged, compared to its average volume of 3,166,833. The company has a 50 day simple moving average of $66.64. The stock has a market cap of $18.41 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.35 and a beta of 1.05. 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.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 13th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, June 12th. Best Buy’s dividend payout ratio is presently 37.59%.

BBY has been the subject of a number of recent research reports. ValuEngine raised shares of Best Buy from a “sell” rating to a “hold” rating in a research note on Monday, March 11th. Wedbush set a $71.00 target price on shares of Best Buy and gave the stock a “hold” rating in a research note on Friday, May 24th. Zacks Investment Research lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Wolfe Research upgraded shares of Best Buy from a “market perform” rating to a “buy” rating in a report on Wednesday, March 6th. Finally, Oppenheimer upgraded shares of Best Buy from a “market perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a report on Friday, March 22nd. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $77.81.

Large investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB lifted its stake in shares of Best Buy by 43.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 61,207 shares of the technology retailer’s stock worth $4,349,000 after acquiring an additional 18,575 shares during the period. HRT Financial LLC acquired a new stake in Best Buy during the fourth quarter valued at approximately $1,105,000. Conning Inc. lifted its stake in Best Buy by 5,774.3% during the first quarter. Conning Inc. now owns 640,709 shares of the technology retailer’s stock valued at $45,529,000 after purchasing an additional 629,802 shares during the last quarter. State Treasurer State of Michigan lifted its stake in Best Buy by 504.0% during the fourth quarter. State Treasurer State of Michigan now owns 437,304 shares of the technology retailer’s stock valued at $23,160,000 after purchasing an additional 364,900 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Best Buy by 6.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,123,417 shares of the technology retailer’s stock valued at $59,249,000 after acquiring an additional 72,456 shares during the period. 78.78% of the stock is owned by institutional investors and hedge funds.

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

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