Corie Barry Sells 42,869 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) CEO Corie Barry sold 42,869 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $2,744,473.38. Following the completion of the sale, the chief executive officer owned 523,138 shares of the company’s stock, valued at $33,491,294.76. The trade was a 7.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Best Buy Price Performance

NYSE:BBY opened at $63.18 on Friday. The business’s 50-day simple moving average is $65.09 and its two-hundred day simple moving average is $71.69. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $84.99. The stock has a market cap of $13.21 billion, a PE ratio of 12.54, a P/E/G ratio of 1.49 and a beta of 1.46. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.13. The firm had revenue of $13.81 billion during the quarter, compared to analysts’ expectations of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.96 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.84 dividend on an annualized basis and a yield of 6.1%. Best Buy’s payout ratio is 76.19%.

Key Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Dividend support: Best Buy’s long record of payouts (22 consecutive years of raises) and a ~6.1% yield are drawing income-focused buyers, reinforcing demand for the shares even as sales growth is soft. Read More.
• Neutral Sentiment: Takeover rumors: Media and traders credited a sudden rally to speculation GameStop might be preparing an acquisition of Best Buy; this appears to be rumor-driven with little public evidence and could be temporary. Read More.
• Neutral Sentiment: Analyst clarification: The analyst whose note sparked the chatter says he did not intend to imply a GameStop takeover — underscoring that the move lacks confirmed strategic rationale and increasing the chance the bump is short-lived. Read More.
• Negative Sentiment: Insider selling: Several senior executives sold shares on March 23 (including CEO Corie Barry, CFO Matthew Bilunas, CAO Mathew Watson and other EVPs), collectively trimming individual holdings by roughly 7–13%. Large, clustered insider sales can be read as profit-taking and may weigh on sentiment. Example SEC filing for the CEO sale: Read More.
• Negative Sentiment: Operational caution: Recent quarter showed modest revenue decline y/y and management set FY27 EPS guidance of $6.30–$6.60 — decent earnings but revenue softness and mixed analyst targets leave upside limited absent a clear catalyst. Read More.

Analysts Set New Price Targets

BBY has been the topic of several research analyst reports. BNP Paribas Exane boosted their target price on shares of Best Buy from $68.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Truist Financial cut their target price on shares of Best Buy from $73.00 to $66.00 and set a “hold” rating for the company in a research note on Tuesday, March 3rd. DA Davidson set a $78.00 price target on shares of Best Buy in a report on Thursday, March 5th. Evercore reiterated a “buy” rating and issued a $75.00 price target on shares of Best Buy in a research note on Wednesday, March 4th. Finally, JPMorgan Chase & Co. downgraded shares of Best Buy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $99.00 to $76.00 in a report on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Best Buy has a consensus rating of “Hold” and a consensus price target of $76.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Stance Capital LLC raised its stake in Best Buy by 4,696.9% during the fourth quarter. Stance Capital LLC now owns 28,110 shares of the technology retailer’s stock valued at $1,881,000 after purchasing an additional 27,524 shares in the last quarter. Winthrop Partners WNY LLC purchased a new position in shares of Best Buy in the 4th quarter worth $790,000. Corient Private Wealth LLC grew its stake in shares of Best Buy by 92.9% in the 4th quarter. Corient Private Wealth LLC now owns 34,167 shares of the technology retailer’s stock worth $2,288,000 after buying an additional 16,452 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Best Buy by 104.1% in the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock worth $135,685,000 after buying an additional 1,030,544 shares during the last quarter. Finally, Bayban bought a new stake in shares of Best Buy in the 4th quarter worth about $33,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.