Richard Schulze Sells 93,293 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) Chairman Richard Schulze sold 93,293 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $84.10, for a total value of $7,845,941.30. Following the completion of the sale, the chairman owned 11,589,298 shares in the company, valued at $974,659,961.80. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Best Buy Stock Performance

Shares of BBY stock opened at $83.87 on Thursday. The business’s 50 day simple moving average is $76.53 and its 200 day simple moving average is $71.55. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $95.49. The stock has a market capitalization of $17.62 billion, a PE ratio of 23.17, a PEG ratio of 2.21 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.5%. Best Buy’s dividend payout ratio is presently 104.97%.

Hedge Funds Weigh In On Best Buy

A number of large investors have recently modified their holdings of BBY. Harbor Capital Advisors Inc. lifted its holdings in shares of Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Best Buy in the 2nd quarter worth $26,000. Root Financial Partners LLC acquired a new stake in shares of Best Buy in the 3rd quarter worth about $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Best Buy in the 2nd quarter worth about $33,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Best Buy in the 2nd quarter worth about $38,000. 80.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BBY. Wedbush upped their target price on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Citigroup restated a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. Jefferies Financial Group increased their price target on Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $90.00 price target on shares of Best Buy in a report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $81.69.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.