Insider Selling: Best Buy (NYSE:BBY) CAO Sells $131,659.20 in Stock

Best Buy Co., Inc. (NYSE:BBY) CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the transaction, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. This trade represents a 7.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mathew Watson also recently made the following trade(s):

• On Monday, March 23rd, Mathew Watson sold 3,298 shares of Best Buy stock. The shares were sold at an average price of $64.02, for a total transaction of $211,137.96.

Best Buy Stock Performance

Shares of BBY opened at $70.95 on Friday. The firm has a 50-day moving average of $63.05 and a 200-day moving average of $66.68. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99. The company has a market cap of $14.95 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.91 and a beta of 1.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The company had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter last year, the firm posted $1.15 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 5.4%. Best Buy’s payout ratio is presently 71.11%.

Institutional Trading of Best Buy

Several hedge funds and other institutional investors have recently bought and sold shares of BBY. Huntington National Bank grew its position in shares of 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 buying an additional 139 shares in the last quarter. Krane Funds Advisors LLC grew its position in shares of Best Buy by 3.0% during the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock worth $346,000 after buying an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after buying an additional 152 shares in the last quarter. Applied Finance Capital Management LLC grew its position in shares of Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after buying an additional 157 shares in the last quarter. Finally, International Private Wealth Advisors LLC grew its position in shares of Best Buy by 5.2% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock worth $224,000 after buying an additional 165 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy News Summary

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

• Positive Sentiment: Best Buy delivered a solid quarterly beat and reported its first positive comparable sales growth in years, with strength in AI laptops, gaming, and other emerging tech categories. Yahoo Finance
• Positive Sentiment: Management highlighted improving momentum in higher-margin businesses such as Marketplace and Best Buy Ads, which could support earnings quality if the trend continues. Yahoo Finance
• Positive Sentiment: Several analysts raised price targets on Best Buy after the quarterly results, reinforcing confidence that the stock can hold recent gains. MarketBeat
• Neutral Sentiment: Articles discussing whether Best Buy is still attractive after its recent run-up suggest the stock may be pausing as investors reassess valuation after the rally. Yahoo Finance
• Negative Sentiment: Insider selling, including a large share sale by Chairman Richard Schulze and a smaller sale by the CAO, could temper enthusiasm even after the strong earnings report. American Banking News

Wall Street Analysts Forecast Growth

BBY has been the subject of several research analyst reports. Morgan Stanley lifted their target price on shares of Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Guggenheim reaffirmed a “buy” rating and set a $90.00 target price on shares of Best Buy in a report on Friday, May 29th. Evercore lifted their target price on shares of Best Buy from $65.00 to $85.00 in a report on Friday, May 29th. Daiwa Securities Group lifted their target price on shares of Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings downgraded shares of Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.05.

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.