Matthew Bilunas Sells 11,356 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) CFO Matthew Bilunas sold 11,356 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $727,011.12. Following the completion of the transaction, the chief financial officer owned 76,884 shares in the company, valued at $4,922,113.68. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Best Buy Stock Up 4.6%

Best Buy stock opened at $63.18 on Friday. The stock has a 50 day moving average of $65.09 and a two-hundred day moving average of $71.69. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $84.99. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.49 and a beta of 1.46. The company has a current ratio of 1.11, a quick ratio of 0.43 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, beating analysts’ consensus estimates of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The business had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

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

Wall Street Analysts Forecast Growth

BBY has been the topic of several analyst reports. Daiwa Securities Group lowered their target price on shares of Best Buy from $80.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, March 5th. DA Davidson set a $78.00 price objective on shares of Best Buy in a research report on Thursday, March 5th. Barclays lowered their price objective on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Telsey Advisory Group dropped their target price on Best Buy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, January 21st. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.20.

Institutional Trading of Best Buy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sage Private Wealth Group LLC grew its position in Best Buy by 3.1% during the third quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock worth $311,000 after buying an additional 123 shares during the period. LVW Advisors LLC boosted its stake in shares of Best Buy by 3.9% during the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after acquiring an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. grew 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 acquiring an additional 138 shares during the period. Huntington National Bank grew its holdings in shares of Best Buy by 12.0% in the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after acquiring an additional 139 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Best Buy by 1.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after purchasing an additional 144 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

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.

About Best Buy

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.