Kathleen Scarlett Sells 8,049 Shares of Best Buy (NYSE:BBY) Stock

Best Buy Co., Inc. (NYSE:BBY) EVP Kathleen Scarlett sold 8,049 shares of Best Buy stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $515,296.98. Following the transaction, the executive vice president owned 102,669 shares in the company, valued at approximately $6,572,869.38. This represents a 7.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Best Buy Trading Up 4.6%

Shares of BBY stock opened at $63.18 on Friday. 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 Co., Inc. has a twelve month low of $54.99 and a twelve month high of $84.99. The company’s 50-day moving average price is $65.09 and its 200-day moving average price is $71.69. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.49 and a beta of 1.46.

Best Buy (NYSE:BBY) last released its quarterly earnings data 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. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $13.81 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same period last year, the business earned $2.58 earnings per share. Best Buy’s revenue 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, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

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

Institutional Trading of Best Buy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sage Private Wealth Group LLC lifted its stake 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 purchasing an additional 123 shares in the last quarter. LVW Advisors LLC raised its holdings in shares of Best Buy by 3.9% in the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock valued at $275,000 after buying an additional 137 shares during the period. Harbor Capital Advisors Inc. raised 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 valued at $25,000 after buying an additional 138 shares during the period. Huntington National Bank lifted its stake in Best Buy by 12.0% during 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 in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Best Buy by 1.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after acquiring an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Barclays reduced their target price on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 8th. Evercore reaffirmed a “buy” rating and issued a $75.00 price target on shares of Best Buy in a research note on Wednesday, March 4th. Piper Sandler reiterated a “buy” rating on shares of Best Buy in a report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and a consensus price target of $76.20.

More 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.